Articles by Todd Wills

Documentation

Secure all deeds to protect estate

SMSF trust deed Estate planning Accurium Anthony Cullen

Maintaining a complete history of SMSF deeds is essential to defend against potential estate challenges and ensure all legal amendments to the document are valid.

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Pensions, Retirement

Age pension falling short

age pension guaranteed income Allianz Retire+ Allianz Australia Adrian Stewart

The age pension is regarded as insufficient by most retirees, leading to a growing interest in working longer and securing guaranteed retirement income streams.

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LRBA, Property

No LRBA changes for property upgrades

Limited recourse borrowing arrangements LRBA Self-managed superannuation SMSF capital improvements rental properties petition Jim Chalmers

The government will not change the existing rules on using limited recourse borrowing arrangements to allow for energy-efficient improvements on rental properties.

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ASIC, financial advice

Ex-adviser guilty of $6m fraud

ASIC Ben Jayaweera Growth Plus Financial Group SMSF fraud

A former Brisbane-based financial adviser has been convicted of defrauding investors out of nearly $6 million after convincing them to withdraw money from their SMSFs.

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Property, Tax

GST a must for high-yield properties

GST Goods and services tax Yield Commercial property Registration

SMSFs holding commercial property generating over $75,000 in rent must register for GST, while those not required to should carefully assess the benefits and costs of doing so.

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Retirement, Superannuation

Insurance, healthcare push up retiree costs

ASFA Retirement standard Inflation

Rising home and health insurance costs, along with higher electricity prices, are driving the amount needed for a comfortable retirement to new highs.

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ATO, Pensions, Regulation

Take note of pension rule change

Pension TR 2013/5 ECPI Exempt current pension income ATO

SMSF trustees have been warned of the significant tax risks if minimum pension payments are missed following a change to an established ATO ruling.

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financial advice, Regulation

FAAA raises CSLR issues with Jones

CSLR Compensation Scheme of Last Resort FAAA Financial Advice Association Australia Dixon Advisory Stephen Jones

The FAAA has met with Treasury to press for action on its key concerns regarding the Compensation Scheme of Last Resort.

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Compliance, NALI/NALE, Trusts

Trust services could bring NALI scrutiny

Unit trusts NALI Non-arm's length income Related party

Contracting a related party to perform services on a unit trust with SMSF investors may expose the trustees to significant NALI risks.

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Legislation, Tax

Teals push for Div 296 changes

Division 296 tax SMSF Self-managed superannuation Teals Amendments Zoe Daniels Helen Haines Allegra Spender Kylea Tink

The teal independents have raised several concerns regarding the proposed Division 296 tax and called for urgent changes to mitigate its impact on SMSFs.

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