Rise in SMSF auditor referrals to ASIC
Sarah Kendell
Increasing numbers of SMSF auditors are being referred to ASIC for non-compliance, while some of the sector’s top auditors on a volume bas
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Corporate trustees see surge in member interest
Corporate trustee structures are growing in popularity among SMSF members due to the protection they offer against succession issues, admini
ATO diversification focus unjustified
The ATO’s focus on undiversified funds in its current review is unjustified given many SMSFs have legitimate reasons for being concentrate
BGL launches Smarter SMSF document integration
SMSF software provider BGL has launched a new integration with training provider Smarter SMSF, allowing accountants to purchase legally chec
‘Don’t let the naysayers kill good ideas’: ATO’s plea to practitioners
Tax practitioners have been urged to speak up against the “noisy minority” who gets in the way of positive changes to the tax system.
SMSF advice shift needed on aged care
SMSF advisers will need to change the way they approach portfolio construction and the advice process for retired fund members, as aged care
SuperConcepts expands to Adelaide
SMSF service provider SuperConcepts has expanded to Adelaide, opening the doors to its new office in the South Australian capital with over
Concerns overblown around ATO diversification review
Industry concerns about the degree to which trustees are being targeted in the current ATO review of highly concentrated funds’ investment
BDBNs, separate funds worthwhile for blended families
SMSF trustees with blended families can look at a variety of options to safeguard their super assets from family conflict after their death,
ATO diversification probe may cause audit headaches
Some SMSF trustees with annual returns due in October may need to re-audit their accounts for the last financial year, following a warning f
Industry association calls for SMSF advice inquiry
The SMSF Association has called for a government inquiry into self-managed fund advice and how it fits into the broader financial services r
Sarah Kendell
Does SMSF litigation risk die with trustees?
How many times have we heard that it’s only an SMSF audit; there’s not much in the fund; or it’s not high-risk? For some reason, the
Planning transactions can maximise ECPI
SMSFs with both accumulation and retirement phase interests can maximise the amount of exempt current pension income (ECPI) they can claim b
Benefit payment timeline can be extended
SMSF trustees can have longer than six months in some circumstances to pay death benefits following the death of a fund member, but liquidit
Child members raise deed, director issues for SMSFs
SMSF trustees and their advisers must consider several factors when making the decision to add their children as members of their fund, incl
Manual trading puts SMSF advisers under pressure
SMSF specialist advice firms are struggling to take on more clients due to the manual nature of executing trades for a client base keen to r
Mistaken contribution refunds cause trustee headaches
SMSF trustees could find themselves in hot water if they refund mistaken contributions to themselves or another fund member, as only a contr
Industry associations welcome FASEA’s deadline extension
The SMSF Association and Chartered Accountants Australia and New Zealand have commended the government’s decision to extend the deadline f
Document flaws can allow BDBN challenges
Binding death benefit nominations (BDBNs) can still be open to legal challenge if the documentation behind them is flawed, highlighting the
Advisers should heed restrictions on downsizer contributions
Downsizer contributions can be a valuable strategy for members who are retired or have reached their contributions caps to tip further funds
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