SMSF
SMSF advisers cautioned on advice fees
With Kenneth Hayne identifying the payment of certain advice fees from super as a problem area, SMSF professionals should be cautious around how they scope and apportion ...
SMSF member limit increase bill introduced
The government has now introduced the bill to increase the SMSF member limit, but with the Labor Party unlikely to support it, the measure is still very much “up in the...
CA ANZ pushes for SMSF actuarial certificate change
Chartered Accountants Australia & New Zealand has urged the government to make a regulatory amendment to bring the requirements regarding actuarial certificates for S...
SMSF-focused political party launched
Grant Abbott has announced a new political party aimed at promoting the growth of SMSFs and protecting the current benefits of existing SMSFs and their members.
W...
Government yet to address ‘unfinished business’ for super
The Coalition government still has an extensive list of superannuation-related measures that have yet to be passed as law, some of which have not even been introduced in...
SMSF loans set as election battleground
As tax and superannuation policy look set to be key battlegrounds in the lead up to the federal election, debate over SMSF borrowing has now heated up between both sides ...
Quality controls flagged for auditors as regulator clamps down
SMSF auditors should consider new quality controls in 2019, given the regulator’s ongoing focus and recent court battles holding auditors liable for investment losses.
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Ex-ATO boss spies missteps with HNW clients
Confusion between the transfer balance cap and the transfer balance account and what amount a pension can be started with after it was commuted continues to trouble high-...
Ex-ATO exec spots 47% tax bills
A number of SMSFs have been stung with a hefty tax bill after a series of ATO audits showed they weren’t operating on an arm’s length basis, according to the former a...
Calls for return of accountants’ exemption continues
A recent straw poll indicates that over three-quarters of SMSF professionals would like to see the accountants’ exemption restored, either in part or in full.
W...
Flat fee, low-cost audit models tipped for a shake-up
With the regulators flagging a focus on low-cost SMSF audits in 2019 and recent cases involving auditors being held liable for investment losses, a pricing model shake-up...
'Constant reform' an ongoing pain point for SMSF clients
The government has been urged to leave the superannuation industry alone, as the SMSF sector continues to grapple with the 2017 reforms.
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