Articles by Tia Thomas

Death benefits

Tax dangers for testamentary trusts

death benefits testamentary trust

An SMSF expert has warned there could be death benefit tax repercussions for beneficiaries of a testamentary trust if their status is unclear.

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ASIC

Dixon clients urged to lodge AFCA complaint

AFCA Dixon Advisory complaint

ASIC has told former clients of Dixon Advisory to lodge a formal complaint so they may be eligible to receive compensation under any schemes launched in the future.

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Appointments

Class names four new general managers

class general managers

Class has announced the appointment of four new general managers for its range of products.

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ASIC, Property

ASIC stops property investment promotion

ASIC property investment

ASIC has placed a stop order on a property investment pitched at SMSFs over concerns its performance figures were misleading or deceptive.

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Documentation

Lease agreement absence potentially disastrous

lease agreement SMSFs

The absence of a lease agreement for SMSFs renting property to a related party could have a disastrous impact on the fund’s compliance with superannuation laws.

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Education

New online learning site opens

SuperConcepts online learning

SuperConcepts has launched an on-demand online learning service to cover current legislative issues.

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Death benefits

Accountants need nomination awareness

accountants death benefits

SMSF accountants have a role to play in explaining the outcomes of death benefit strategies even if trustees rely on a lawyer to execute any decisions.

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ATO, Compliance

Control levels impact early access discretion

SMSF early access control

SMSF trustees are unlikely to receive discretion from the ATO for a breach of payment standards due to the effective control obligations applied to their funds.

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Accounting, Documentation

Next phase of electronic documents pending

electronic documents

More changes to allow the use of electronic documents across the SMSF sector are reliant on the government picking up work carried out by Treasury before the election.

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NALI/NALE

Good NALE outcome is possible

NALE provisions solution

Three key principles put forward by the superannuation industry could produce a positive outcome in dealing with non-arm’s-length expenditure provisions.

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