Articles by Jason Spits

Commutation changes not yet locked in

April 14, 2022

Regulations allowing the commutation of a market-linked pension without creating an excess transfer balance are operational but open for debate.

read more

Auditing

Auditors following independence standards

April 13, 2022

Jason Spits

SMSF returns are showing auditors have complied with independence standards and are moving away from prohibited behaviour.

read more

Contributions

Dual funds key part of recontribution strategy

April 12, 2022

Jason Spits

SMSF looking to cash out and recontribute funds to reduce the taxable component of their balance should use a second SMSF to park their tax-free savings.

read more

Contributions

Rule changes a nirvana for members

April 11, 2022

Jason Spits

A range of contribution rule changes has created an ideal situation for super fund members, but the correct implementation order needs to be followed to maximise the benefits.

read more

ASIC

ASIC claims crypto lender was unlicensed

April 11, 2022

Jason Spits

ASIC has commenced legal action against a cryptocurrency lender it claims was operating without a credit licence.

read more

NALI/NALE

NALE resolution should not drag on

April 7, 2022

Jason Spits

A resolution to industry concerns around NALE has taken too long and raises questions as to the aims of the provisions.

read more

ATO, Auditing

Tax agent may provide access to ACR

April 7, 2022

Jason Spits

SMSF auditors unable to access lodged ACRs may be able to request copies via their clients’ tax agents.

read more

ATO

Trustee disclosures considered whistleblowing

April 6, 2022

Jason Spits

SMSF trustees making a voluntary disclosure about problems with their fund will be considered whistleblowers, allowing the ATO to contact third parties if required.

read more

Documentation