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SMSF

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Bring-forward measures and 6-member SMSF bill passes Parliament The measures to extend the bring-forward age up to 67 and the bill to increase the number of members allowed in an SMSF have passed both houses of Parliament. Wri...
Caddick’s SMSF auditors face potential class action Auditors who were involved in auditing a number of SMSFs managed by self-styled financial adviser Melissa Caddick may find themselves hit by a potential class action. ...
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ATO updates auditor obligations on NALE compliance relief The ATO has updated its auditor obligation guidance on the extension of its transitional compliance approach to non-arm’s length expenditure (NALE). Write co...
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ATO flags SMSF TICK response requirements The ATO has flagged requirements on how to manage the responses of the SMSF tax file number identity check service to assist the new SuperStream rollovers. Wri...
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Government scraps work test for voluntary superannuation contributions Older Australians in SMSFs will be able to contribute earnings or savings directly into superannuation funds with the repeal of the work test. Write comment (0 C...
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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) ...
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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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