Articles by Todd Wills

Compliance, Property, SMSF, Tax

Incorrect loan details a stamp duty trap

SMSF Loans Property Deposit Stamp duty

Electing to pay the deposit of an SMSF property loan using an individual’s name, rather than that of the fund, could attract a stamp duty liability when the asset is transferred.

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Compliance, Investments, SMSF

Verify asset location before filing SAR

Overseas assets Australian assets Investments SMSF annual return SAR

Understanding the location of an asset that is held by an SMSF is crucial for meeting the fund’s annual reporting requirements.

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LRBA, Platforms, SMSF

DASH adds SMSF features to advice platform

DASH Technology Group SMSF Advisers LRBA Platform Archer

Dash Technology Group has strengthened its adviser support platform by adding features tailored specifically for SMSF practitioners.

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Administration, Compliance, Contributions

Second splitting request not allowed

Contribution Splitting Splitting application Concessional contribution SMSF

SMSF members only have one opportunity to make an application to split a concessional contribution with a spouse in a given financial year.

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AFCA, Compliance, Regulation

Declaration can be used as disclaimer

Disclaimer Trustee declaration statement AFCA Legal protection

Practitioners may reissue fund establishment documents to SMSF clients as a precautionary measure to protect against potential legal threats in the future.

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Appointments, Regulation

Government names CSLR chair

CSLR Compensation Scheme of Last Resort Jo-Anne Bloch

The federal government has appointed a former FPA chief executive as the chair of the Compensation Scheme of Last Resort board.

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BDBNs, Death benefits, Estate Planning

Review fund deed when circumstances change

BDBN Seperation De facto Trust deed SMSF

It is crucial to review the trust deed of a fund in the breakdown of a spousal relationship to ensure estate planning strategies can continue to operate as intended.

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Auditing

Valuation expectations may rise

Valuations SMSF auditors Division 296 tax

In preparation for the Division 296 tax, SMSF auditors should be requesting sworn valuations for property assets held within a fund.

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SMSFA, Tax

Div 296 indexation change proposed

SMSF Association Indexation Teals Indexation Division 296 tax

An amendment to ensure the $3 million threshold for the proposed Division 296 tax will be subject to indexation is likely to be introduced into parliament.

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Retirement

Home equity in retirement overlooked

Home equity Retirement SMSF Association Retirement income

Using equity gained from home ownership may be an underused strategy to help prolong superannuation savings in retirement.

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