News

financial advice, Legislation, Regulation, SMSF, Superannuation, Trusts

Proof of transaction terms a concern

The procedures of SMSF auditors pertaining to transactions conducted at arm’s length have been recognised as an area of regulatory concern.

The procedures of SMSF auditors pertaining to transactions conducted at arm’s length have been recognised as an area of regulatory concern.

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Accounting

TRIS overpayment guidance needed

More guidance is needed to ascertain whether the ATO will provide discretion for SMSF members who overpay a TRIS after existing information was withdrawn by the regulator.

More guidance is needed to ascertain whether the ATO will provide discretion for SMSF members who overpay a TRIS after existing information was withdrawn by the regulator.

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Education, Retirement, SMSF, Superannuation

Retirement stresses Australians

Recent analysis into the country’s retirement savings system has shown Australians are struggling with the complexity of the framework. approach to rectify it.

Recent analysis into the country’s retirement savings system has shown Australians are struggling with the complexity of the framework.

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In-house assets, SMSF, Superannuation

DBA Lawyers promotes senior members

A Melbourne-based SMSF specialist legal firm has promoted two of its senior staff members to the role of directors of the practice.

A Melbourne-based SMSF specialist legal firm has promoted two of its senior staff members to the role of directors of the practice.

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Business News, financial advice, SMSF, Superannuation

LRBA repayment plan required

Auditors are likely to insist on seeing a full repayment schedule for an SMSF related-party loan to ensure compliance with PCG 2016/5.

Auditors are likely to insist on seeing a full repayment schedule for an SMSF related-party loan to ensure compliance with PCG 2016/5.

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NALI/NALE, SMSF, Superannuation, Tax

LCR confirms post-acquisition NALE view

ATO revised draft guidance has amended the application of NALE to specific assets after their acquisition with regard to capital gains.

ATO revised draft guidance has amended the application of NALE to specific assets after their acquisition with regard to capital gains.

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Accounting, Legislation, SMSF, Superannuation, Tax

Board finalises conduct code guidance

Tax agents must adhere to eight new reforms finalised last month by the TPB, which is committed to supporting the transition via education.

Tax agents must adhere to eight new reforms finalised last month by the TPB, which is committed to supporting the transition via education.

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Administration, Appointments, Business News, SMSF, Superannuation

New ASIC chief executive named

ASIC has appointed a new chief executive after a recruitment process that considered both local and international candidates.

ASIC has appointed a new chief executive after a recruitment process that considered both local and international candidates.

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Investments, Legislation, SMSF, Superannuation

Proper CSLR process possibly omitted

New information obtained by the FAAA indicates the requirement to perform an analysis of the CSLR before its implementation may have been overlooked.

New information obtained by the FAAA indicates the requirement to perform an analysis of the CSLR before its implementation may have been overlooked.

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Administration, SMSF, Superannuation, Trusts

ATO issues annual return reminder

SMSF trustees have been reminded to lodge their SMSF annual return with the ATO’s February deadline drawing closer.

SMSF trustees have been reminded to lodge their SMSF annual return with the ATO’s February deadline drawing closer.

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