Articles by Jason Spits

Pensions

Act now on enacted legacy pension changes

legacy pension budget

Legacy pension holders should not wait for proposed budget measures that may not eventuate, but take advantage of recent changes to exit those products.

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Investments

Ignore NFT novelty to focus on fundamentals

NFT superannuation

An increase in the supply and value of NFTs should not override superannuation regulations and trustees’ duties to adhere to their investment strategy.

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Pensions

Pensions fix creates excess trap exit

legacy pensions excess transfer balance

Changes to pension rules will allow SMSF members to convert legacy products with excess transfer balances to new products without creating concessional contributions.

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Investments

Investment strategy apathy a sign to wind up

SMSF strategy capacity

SMSF trustees struggling with their investment strategy due to age may be best served with advice to wind up their fund.

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Insurance

Document client’s insurance refusal

SMSF insurance

Instances of SMSF members opting not to discuss their insurance needs should be recorded in their file notes rather than being glossed over to prevent later disputes.

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Investments

Advised SMSFs bullish on share markets

advised SMSF trading

Advised SMSF investors were active share traders in the first part of the year despite fears of inflation and rising interest rates.

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Contributions

NCC changes trap failed downsizers

disallowed downsizer contributions

The changes to contribution rules may trap failed downsizer contributions within an SMSF rather than returning them to the member, according to an SMSF technical expert.

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ATO

Trustees should know fund details

ATO SMSF details

The ATO has indicated it expects SMSF trustees to be across the details of their fund’s costs, investment and returns.

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NALI/NALE

NALE fix possible in pending changes

NALE contribution rules

Pending changes to contribution rules being considered by the ATO could factor in a fix for the problems with the NALE provisions presented by the superannuation industry.

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Estate Planning, Retirement

Return focus of super to retirement spending

retirement estate planning

The end result of superannuation should be spending in retirement and not estate planning, according to a technical expert.

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