Articles by Jason Spits

Business news

Director ID deadline extended

Director ID deadline

The ATO will not penalise company directors who did not meet today’s deadline to apply for a director ID if they apply by mid-December.

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Auditing

Six SMSF auditors penalised

SMSF auditors

ASIC has taken action to remove five SMSF auditors from practice and imposed conditions on another auditor following referrals from the ATO.

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ETFs

Examine ETF holdings closely

ETF shares

ETF investors should examine what is in each fund to avoid concentrations of shares with other directly or indirectly held investments.

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Business news

Risk low with LRBAs

LRBAs low risk

A group of government regulators have found LRBAs do not pose any significant risks to the superannuation sector.

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Cryptocurrency

Crypto exchange failure will aid transparency

Cryptocurrency exchange FTX

The collapse of the FTX cryptocurrency exchange will spur other exchanges to prove they are stable and investors’ funds are held safely.

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ETFs

JP Morgan launches its first ETFs

JP Morgan ETF

JP Morgan Asset Management has released its first exchange-traded fund products into the Australian market with two active ETFs available on the ASX.

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Superannuation

Double round of indexation likely

TBC indexation

The budget has flagged ongoing high levels of inflation will continue into 2023 and will drive the transfer balance cap up to $1.9 million.

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ATO, Compliance & Regulation

Two penalty unit rises in 2023

penalty units increase

The planned increase in penalty units in the budget is aimed at offsetting bad debts and will be one of two rises planned for next year.

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Investments

New strategies needed after bond, share shift

strategies bonds shares

Investors should be considering alternative strategies given the usual risk-reducing relationship between bonds and shares has been nearly overturned.

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ETFs

Vanguard amends brokerage fee charges

Vanguard brokerage fees

Vanguard has upgraded its ETF offering by dropping certain fees and will soon release an automatic investment capability to this business arm.

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