SMSF
ATO to contact audit firms over new independence guidance
The ATO has announced it will be writing to SMSF audit firms that prepare both the financial statements and audits for SMSFs to ensure they are complying with the require...
New guidance to clear the ‘murky waters’ of auditor independence
Fresh guidance released by the Accounting Professional and Ethical Standards Board has clarified that firms undertaking both the accounting work and audit functions for...
‘Tough love’ approach required for clients eyeing early access to super
Accountants have been urged to protect themselves from potential ATO scrutiny around the illegal access of super by documenting their advice, says one law firm.
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Accountants cautioned over investment strategy advice
Accountants looking to provide effective investment strategy advice for SMSF trustees must tread carefully to ensure they are not contravening Corporations Regulations, w...
Accountants eye potential SMSF pool
Accountants are looking to grow their self-managed super fund client base despite a drop in SMSF establishment figures, a new report shows.
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COVID-19 opens up possible early release condition
Australians who have fallen ill from COVID-19 or any other illness or injury may be able to use a potential avenue of early release to make a claim for income support fro...
Deferred ATO ruling leads to hopes of better NALE approach
The Tax Office’s recent deferral of finalising its ruling around how it will address both non-arm’s length income and expenditure amid COVID-19 has led to hopes withi...
ATO reveals approach to NALE under NALI provisions
The Australian Taxation Office has announced how it will apply the non-arm’s length income provisions to “non-arm’s length expenditure” in its latest practical co...
Adviser banned for inappropriate SMSF advice
The corporate regulator has banned a Hunter Valley-based financial adviser for five years for not appropriately assessing whether limited recourse borrowing arrangements ...
TPB earmarks 74 agents with dodgy SMSF tax returns
The regulator will currently investigate over 70 registered tax practitioners who are believed to have provided false information on 106 self-managed superannuation funds...
