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SMSF

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AAT affirms disqualification of SMSF trustees The AAT has affirmed the decision to disqualify trustees of two self-managed super funds after failing to comply with SIS laws. Write comment (0 Comments) ...
SMSF auditors urged to proactively identify SAN misuse SMSF auditors have been urged to take greater care in ensuring their auditor numbers are not being misused as the regulators circle around the ongoing issue. Wri...
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ATO makes extension relief on NALI The ATO has made an extension on the transitional compliance approach in PCG 2020/5 for another 12 months, providing relief around critical issues faced in non-arm’s le...
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BDO expands partnership with SuperConcepts to bolster audit offering The collaboration will now see BDO provide its audit services to the SMSF service provider. Write comment (0 Comments) ...
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ATO releases guidance on SMSF auditor independence requirements The Tax Office has published comprehensive guidance on how SMSF firms might expose themselves to independence threats, and what they can do to avoid compliance action com...
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ATO flags additional updates on information accessible ahead of TBC changes The importance of preparing early before the indexation of the transfer balance cap has been flagged again, with the ATO outlining important updates on information that ...
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Super contribution caps set to increase from 1 July 2021 From 1 July 2021, the concessional and non-concessional contribution caps are set to increase due to indexation for the first time since July 2017. Write comment ...
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‘We need to have a different system’: Roadblocks limiting accountants from driving SMSF sector forward Accountants should play a broader, flexible and expansive role in the future of the SMSF profession, but they are currently being limited by the regulatory nature of the ...
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SMSF accounting and audit firms handed fresh resource on independence changes Accounting firms waiting on ATO guidance around new SMSF auditor independence requirements have been handed an additional resource from a professional accounting body. ...
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‘3 strikes and you’re out’: ATO eyes 80,000 late SMSF returns The ATO has launched a new compliance campaign aimed at driving the lodgement of SMSF annual returns as it chases 80,000 late returns. Write comment (0 Comments)...
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Limited licensing framework needs to be removed, says SMSF Association The SMSF Association has called for a more efficient regulatory framework for financial advisory services, outlining several recommendations that can address the limited ...
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