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Jason Spits

Sydney

Senior Journalist at SMS Magazine

Financial services journalist since 1999, senior journalist @smsmagazine at present - but views are my own.

Featured in: Favicon smsmagazine.com.au Favicon moneymanagement.com.au Favicon riskinfo.com.au Favicon issuu.com

Articles

  • Court orders wind-up of rollover scheme

    2 weeks ago | smsmagazine.com.au | Jason Spits

    The Australian Securities and Investments Commission (ASIC) has been successful in its efforts to wind up a managed investment scheme that appears to have been involved in advising people to roll over their super into retail funds or SMSFs so they could to invest in it.

  • Excess release less work than SG opt-out

    2 weeks ago | smsmagazine.com.au | Jason Spits

    Dealing with excess concessional contributions that can be created by retaining superannuation guarantee (SG) payments from multiple employers is an easier process than having to request they withhold the SG and nominating the periods when it is not paid, a super specialist has claimed.

  • Reserving useful to stymie Div 293

    2 weeks ago | smsmagazine.com.au | Jason Spits

    Contribution reserving strategies are particularly useful where an SMSF member runs up against the Division 293 tax rules after realising a significant gain on the sale of a personally held asset, but they require careful execution, according to a superannuation expert.

  • NALE identification role shared

    2 weeks ago | smsmagazine.com.au | Jason Spits

    SMSF auditors are not solely responsible for identifying non-arm’s-length income and expenditure issues for their clients, with tax agents working on financial statements and annual returns equally obligated to ensure problems are addressed, according to a specialist adviser. Deloitte national SMSF leader Liz Westover said the commencement of the non-arm’s-length expenditure (NALE) provisions from 1 July last year raised some concerns as to who would address NALE-related issues in a fund.

  • From MFA to the sock drawer: SMSF security

    2 weeks ago | smsmagazine.com.au | Shelley Banton |Jason Spits

    Security in SMSFs comes in all shapes and sizes. Tech-savvy trustees will have multi-factor authentication (MFA) enabled for all their investments, while others will happily rely on a sock drawer to store passwords. In the wake of recent cyberattacks on Australian Prudential Regulation Authority-regulated funds, it would be naïve to assume cybercriminals would ignore the SMSF sector with $1 trillion in total assets.

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Jason Spits
Jason Spits @JasonSpits
11 Oct 24

RT @smsmagazine: Article of the Week: 2024 SMSF Roundtable: Confronting Current Hurdles Key industry stake holders share their views on…

Jason Spits
Jason Spits @JasonSpits
9 Oct 24

After being stalled for 5 months the bill that will bring in the Division 296 tax on #superannuation balances has finally passed the lower house and will head to the Senate, where support is not assured. https://t.co/G7s1vnhhKt @SMSFassoc

Jason Spits
Jason Spits @JasonSpits
27 Sep 24

RT @smsmagazine: ✨ The latest edition of selfmanagedsuper quarterly emagazine is out now! Check it out here: https://t.co/Kz7Xa51qWN In…