Read the latest SMSF audit news, tips and articles written by our expert team of SMSF auditors
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