Articles by Todd Wills

LRBA, SMSF, Tax

LRBA deductions limited to borrowing

LRBA deductions

An SMSF with an LRBA in place can claim deductions only for costs associated with borrowing activities and not for any expenses related to the loan’s establishment.

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ESG, Investments

ESG credentials to be scrutinised

Zenith Greenwashing

Regulators are tightening their grip on greenwashing, with even accurate details used to promote a financial product’s ESG credentials coming under examination.

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Contributions, Tax

Acceptance rules top priority

superannuation contributions

Before advising clients on superannuation contributions, SMSF practitioners should first consider the acceptance rules trustees are bound by.

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Retirement, Superannuation

Importance of super welcomed

2023 intergenerational report

A representative body has praised the government’s approach to superannuation as a driver of retirement income, but believes further improvements to the system are necessary.

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In-house assets

Exercise caution with in-house asset exemptions

SMSF property development in-house asset related parties

Trustees should be wary of relying on exemptions in the SIS Act to avoid a property development project becoming an in-house asset.

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Estate Planning, Management, SMSF, Strategy

Power of attorney critical in incapacity

SMSF trustee enduring power of attorney

Nominating an enduring power of attorney prior to the possibility of incapacity is vital for SMSF trustees to avoid lengthy legal proceedings.

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ETFs, Investments

JP Morgan launches first fixed income ETF

JP Morgan ETF

JP Morgan has added to its Australian ETF offerings by introducing its first fixed income fund and a growth-focused ETF for accessing emerging markets.

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financial advice, SMSF

Intent at set-up critical for advisers

SMSF establishment intent

Financial advisers need to comprehend the reasons why a client might want to establish an SMSF so they can uphold ethical standards and fulfil their professional obligations.

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ATO, Auditing, Compliance, SMSF

Auditors warned about charges over assets

SMSF auditors charge over asset

SMSF auditors have been reminded of their duty to ensure trustees have not given a charge over assets held within a fund.

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ATO, Auditing, Compliance, Property, SMSF

Property scheme scrutiny widens

SMSF property development scheme

The ATO has altered a key definition in its latest taxpayer alert regarding SMSFs and property development schemes.

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