News

ASIC, ATO, Auditing, Compliance, Documentation

Client audit files require specificity

Auditors must structure their record-keeping to reflect specific files pertaining to particular clients in order to satisfy their professional obligations.

Auditors must structure their record-keeping to reflect specific files pertaining to particular clients in order to satisfy their professional obligations.

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Budget, Legislation, Tax, Trusts

Trust tax relief must include stamp duty

The stamp duty implications of the rollover relief allowing individuals and companies to manage the new trust tax have been ignored.

The stamp duty implications of the rollover relief allowing individuals and companies to manage the new trust tax have been ignored.

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Death benefits, Estate Planning, Strategy

Funeral expenses have benefit impact

Executors should be careful in drawing on SMSF monies to pay funeral expenses as they could impact death benefit payment processes.

Executors should be careful in drawing on SMSF monies to pay funeral expenses as they could impact death benefit payment processes.

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financial advice, Financial Planning

Future2 grant program open for 2026

The Future2 grant program, which lets financial professionals nominate community groups supporting financial well-being, has opened.

The Future2 grant program, which lets financial professionals nominate community groups supporting financial well-being, has opened.

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ATO, Budget, Legislation, LRBA, SMSFA

Gearing ban clarity on the way

Treasury is working with the ATO to formulate guidance as to the details regarding the ban on LRBAs used for residential property purchases.

Treasury is working with the ATO to formulate guidance as to the details regarding the ban on LRBAs used for residential property purchases.

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Budget, Legislation, LRBA, Property

LRBA transition period laid out

SMSF trustees looking to use an LRBA to buy a residential property need to ensure certain elements are in place before the practice is banned.

SMSF trustees looking to use an LRBA to buy a residential property need to ensure certain elements are in place before the practice is banned.

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ATO, Auditing, Division 296, Valuations

Unlisted valuation proof more critical

Trustees will have to provide solid evidence for the valuation of assets, especially those that are unlisted, as the Division 296 regime begins.

Trustees will have to provide solid evidence for the valuation of assets, especially those that are unlisted, as the Division 296 regime begins.

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ASIC, financial advice, Financial Planning

ASIC advisory levies rise materially

The ASIC Cost Recovery Implementation Statement has outlined increases of more than 20 per cent for the majority of financial advisers.

The ASIC Cost Recovery Implementation Statement has outlined increases of more than 20 per cent for the majority of financial advisers.

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ATO, Regulation, SMSF

ATO sector regulation review commended

The SMSF Association has applauded the announced planned review into the effectiveness of the ATO’s regulation of the sector.

The SMSF Association has applauded the announced planned review into the effectiveness of the ATO’s regulation of the sector.

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Digital assets, Investments

SMSF digital asset strategies sensible

SMSF members are approaching investing in digital assets in a strategic and sensible manner with portfolio diversification in mind.

SMSF members are approaching investing in digital assets in a strategic and sensible manner with portfolio diversification in mind.

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