ASIC bans SMSF property scheme director for 8 years
Sarah Kendell
ASIC has banned the director of a company that encouraged consumers to move their super into an SMSF in order to facilitate early access to
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ATO outlines compliance guidelines for diversification probe
The ATO has provided more details on what SMSF trustees with highly concentrated portfolios will need to document to pass the office’s for
Costello resigns as SMSF Association patron
Baptist minister and world vision advocate Tim Costello will step down as patron of the SMSF Association (SMSFA) after holding the role for
BGL overhauls software support
BGL Corporate Solutions has streamlined the support services it provides to SMSF professional users of its Simple Fund 360 software through
Audit uncertainty weighing on trustees
Uncertainty around whether the government will press on with its plans to allow SMSFs with a positive compliance history to opt out of annua
ATO no longer accepting spreadsheet TBARs
The ATO has confirmed it will no longer be accepting TBARs in spreadsheet form after October this year, saying lodging the reports in this m
Tax relief possible for reversionary pensions
SMSF trustees who have retired and inherited an additional reversionary pension on the death of a spouse will not breach the transfer balanc
Corporate trustees key to combating penalty rise
A rising incidence of penalties being issued to SMSF trustees for compliance breaches highlights the value of a corporate trustee structure
ATO clarifies next steps on double counting
The ATO has clarified that SMSFs who are victims of double counting do not need to relodge their TBARs, as an amended determination will be
Queensland Supreme Court rejects SMSF investors’ appeal
The Supreme Court of Queensland has dismissed an appeal from a group of SMSF trustees after they were ordered by the State Revenue Office to
Investment strategy documentation poor among SMSFs
Too many SMSF professionals are not giving enough focus on their client’s investment strategy for fear of breaching licensing provisions
SMSF Association policy head resigns
The SMSF Association (SMSFA) has announced the resignation of its long-serving head of policy, Jordan George.
ATO clarifies downsizer guidelines as contributions rise
The ATO has clarified the guidelines around making downsizer contributions to superannuation, noting the measures have been popular among fe
Practical issues with SMSF death benefits still causing confusion
While most SMSF professionals are across the basic rules around superannuation death benefits, there are a number of practical aspects which
SMSFs told to hold fire on TSB double counting issue
Following discussions with the ATO, a technical expert has said SMSF trustees impacted by the double counting issue with the total superann
Valuations key to avoiding NALI restrictions
SMSF trustees may find properties within their fund caught under changes to non-arm’s length income rules if the property is involved in a
Double counting issue with pensions ‘taking many by surprise’
Transitional arrangements which were in place when the total superannuation balance was first introduced have caused some pensions to be dou
Government lobbied on SMSF carveout for vacant land tax bill
The government has been urged to extend the carve-out for APRA-regulated funds under its vacant land tax measures to SMSFs also, with the re
ATO warns trustees with poor diversification to review strategy
After announcing that it will be writing to SMSF trustees with a high concentration of one asset in their fund, the ATO has said it will be
Tribunal upholds ATO decision to disqualify trustee
The Administrative Appeals Tribunal has upheld a decision by the ATO to disqualify an SMSF trustee who sought to blame her accountant for a
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