Articles by Jason Spits

Investments

Cashed-up investors not always clued-up

high net worth investors unsophisticated

Many high net worth investors are unsophisticated in their choice of investments, with a new survey indicating they opt for Australian shares, cash and term deposits. The survey, released by financial advice firm Crestone Wealth Management, found 81 per cent held cash in their portfolio, alongside Australian shares (56.4 per cent) and direct residential property […]

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Investments, Retirement

Longevity putting pressure on income investments

longevity pressure on income investments

Longevity in retirement will put pressure on income investments which are currently struggling to break even in a low-return environment.

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Superannuation

Canberra assigns superannuation responsibilities

The second Morrison ministry will feature a new face with 20 years’ experience in the financial services arena to oversee the superannuation sector.

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Compliance & Regulation

Franking credit inquiry opposes refund changes

The final report from an inquiry into the removal of franking credits to some individuals has opposed the move, despite being split along party lines.

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ATO, Pensions

Changes made to ECPI calculation rules

Calculations written on chalkboard
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The methodology for calculating ECPI has been changed, allowing trustees in accumulation and retirement phases in one financial year to choose their preferred method of calculation.

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Retirement, Strategy

Work test, contribution bring forward rules eased

The work test rule and the ability to use the bring forward provision for non-concessional contributions have been eased for people aged 66 and 67.

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Documentation

SuperStream start date pushed back to 2021

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SMSFs will have wait nearly 18 months more to access the SuperStream system, which will now be introduced in early 2021.

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Compliance & Regulation, Retirement

Six-member SMSF legislation dropped

The government has withdrawn the legislation enabling SMSFs to service a maximum of six members.

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ATO, Compliance & Regulation

ATO to release banned SMSF trustee register

The names of banned SMSF trustees will be made more accessible to advisers and the public via a new register from the ATO.

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Investments, Retirement

PM labels franking credit proposal as theft

The Prime Minister has pushed back on Labor’s franking credit proposal, branding it as theft and an unfair tax grab.

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