Super Snippets January 2022
Happy New Year from all the team at Baumgartner Super!
All our team members have enjoyed a fantastic break over the last month. However, as much as we have loved our holidays, we are very much looking forward to getting back to what we do best, auditing SMSFs!
We hope you all enjoyed some time off and wish you the very best for 2022.
Valuations — in case you missed it...
Undoubtedly the biggest audit issue facing auditors at the moment is the valuations of properties and unlisted investments. SMSF auditors right across the industry are grappling with the ATO’s more stringent guidelines which are making the current audit season a challenge for all.
To assist with the audit process, we urge all our clients to revisit the contents of our articles below and the guidelines linked within them. Our objective when producing the guidelines was for them to clearly explain what we need and why we need it. However, if after reading them you have any queries, please reach out to us so we can address those issues:
- Important changes to property valuation requirements »
- Valuation requirements for unlisted investments and loans »
If you have any questions about our audit requirements, please do not hesitate to contact the team at Baumgartner Super.
Author
David Burrows
Director
David's wealth of business experience and a clear vision for the future has enabled Baumgartner Super to establish itself as a market leader.
Recent articles by David
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Audit warning — ‘incorrect’ withdrawals
Read why all trustees should be extra vigilant about the circumstances surrounding any withdrawals from their SMSF's bank account.
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Announcement: David Burrows SMSF AAA Board appointment
Baumgartner Super Director, David Burrows, joins the Board of the SMSF Auditors Association of Australia (SMSF AAA).
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EOFY Planning for SMSFs
Given that 30 June falls on a Sunday this year, don't be caught off guard. To assist you in being organised, here's our checklist to ensure you're prepared.