Read the latest SMSF audit news, tips and articles written by our expert team of SMSF auditors
10 October 2014
The transactions involving a SMSF’s drive for accumulating wealth may result in the SMSF holding a person’s most valuable assets, often greater than their family home.
26 September 2014
We frequently receive queries from our clients asking why certain documents must be signed and by whom they must be signed.
1 September 2014
Members of a superannuation fund that are self-employed or earn passive income (i.e. from investments or trust distributions) are able to claim a tax deduction for making personal contributions so long as they meet the conditions below
27 July 2014
Regulation 8.02B of the Superannuation Industry (Supervision) Regulations 1994 (SISR) requires the assets of a fund to be reported at their market value in the Statement of Financial Position.
24 July 2014
The ATO has advised that it has developed a new approach to deal with ACRs, based upon the overall risk posed by the SMSF.
14 July 2014
From 1 July 2014, SMSF trustees face stronger penalties imposed by the Australian Taxation Office if they do not attend to what are seemingly simple administrative housekeeping requirements such as failing to keep proper records...
9 July 2014
Valuing superannuation fund assets at current market value has always been required for funds other than SMSFs. SMSF trustees however were historically only required to revalue their fund’s assets to market when a benefit needed to be paid or when the fund
15 June 2014
The Australian Taxation Office have released their standard audit report for the year ended 30 June 2014 (NAT 11466) and interestingly there are no new sections or regulations of the Superannuation Industry (Supervision) Act 1993 for the auditor to review.
8 May 2014
With two weeks until the end of the financial year, your clients need that extra TLC to remind them of certain obligations which must be met before 30 June to ensure their SMSF’s are compliant. Based on our experience of what can go wrong, we have prepared
