News

Accounting

ATO prepares for member rise

six-member SMSFs

The ATO is preparing to accommodate the legislative change that will allow a maximum of six people to be members of an SMSF.

read more
Auditing

Routine and mechanical not easy exemption

routine and mechanical auditor

Routine and mechanical in the context of the new auditor independence standards is unlikely to be used as a get-out-of-jail-free card by auditors, an SMSF audit expert says.

read more
Superannuation

SMSF numbers to get COVID-19 bump

SMSF establishments

The number of SMSF establishments is likely to increase as a result of the COIVD-19 pandemic, industry research has shown.

read more
Retirement

Retirement income review will bust myths

Retirement Income Review

The long-awaited Retirement Income Review will address myths about superannuation and is likely to be released after the federal budget.

read more
Administration, Property

Heffron launches rent relief toolkit

Heffron toolkit

Heffron has launched the second stage of its Super Toolkit, covering auditor and ATO requirements related to COVID-19 rent relief measures.

read more
ATO, Superannuation

ATO on SAR lodgement warpath

SMSF annual return lodgement

The ATO has issued a stern warning to the entire SMSF sector over funds that either have not lodged or are late in lodging the requisite annual return.

read more
Pensions

Legacy pension change not on govt agenda

Legacy pensions

The complex nature of legacy pensions and a full government agenda meant any reforms were unlikely to take place in the near future, according to a government minister.

read more
ATO, Property

Regulator bulletin may be misleading

ATO property development

An ATO instrument regarding lease arrangements pertaining to property developments held by SMSFs is potentially misleading, a specialist lawyer has said.

read more
Pensions

ATO seeks insight into pension relief measure

pension drawdown relief

The ATO is conducting research into the uptake of the COVID-19 minimum pension drawdown relief measure among SMSFs.

read more
ATO, Superannuation

Data-matching time lag warning

ATO data-matching

The director of a financial services firm has flagged the significance of the time it takes the ATO to issue excess contribution notices and the consequences this situation can have.

read more

Copyright © SMS Magazine 2020

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital