The ATO has been granted a new set of powers, including the capacity to fine SMSF trustees for compliance breaches. Brian Hor details what they mean for advisers and their clients. A change in the powers available to the Australian Taxation Office (ATO) has provided yet another extremely compelling reason for changing from individual trustees to a […]

Traditionally, SMSF trustees have effected insurance for members under a self-insurance model. This involves the SMSF trustee to take out, say, death insurance on a particular member. In the event of a claim, the insurance proceeds are allocated to the relevant member’s account in the fund.

The new SuperStream requirements are about to be introduced for all superannuation funds, including SMSFs. David Shirlow and Kelly Cox outline the practical implications of the new regime.