Read the latest SMSF audit news, tips and articles written by our expert team of SMSF auditors
12 May 2016
If an SMSF has entered into a LRBA where the lender may be a related party or someone other than a main-stream bank, the arrangement may attract non-arm’s length income and fall outside the concessional tax regime applicable to SMSFs.
The ATO is reviewing SMSFs that have received trust distributions. They are looking at complex arrangements between related entities in a private group that result in large capital gains or inflated income being distributed to SMSFs.
The Australian Taxation Office is doing its best to become more user-friendly by seeking better ways to engage with the taxpaying public.
4 May 2016
As we approach the end of the financial year, trustees and advisers will be turning their attention to those SMSFs that are in pension phase to ensure they meet their minimum pension payments for the 2016 financial year.