Articles by Darin Tyson-Chan

Auditing

Key audit materials should be used

SMSF auditors should use key materials such as guidance statements as the basis for their processes to make them as robust as possible.

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Tax

Wider impact of conduct code a worry

IFPA has warned the proposed changes to the Tax Agent Services Act Code of Professional Conduct may negatively impact small tax practices.

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ATO, Auditing, Compliance

Static asset values can be legitimate

There can be legitimate reasons as to why an SMSF asset has not changed in value over several years, but auditors must document their presence.

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ATO, Compliance

Trustee non-compliance increasing

Auditor contravention reports lodged with the ATO have shown a jump in non-compliance among SMSF trustees over recent years.

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ASIC, Compliance

CSLR payment sees licence cancellation

ASIC has cancelled the AFSL of an organisation that required the Compensation Scheme of Last Resort to settle an AFCA determination on its behalf.

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Contributions

Contributions chief super advice issue

Superannuation contributions are the element of the current retirement savings framework financial advisers are finding most challenging.

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ATO, Auditing, Documentation

Audit files miss trustee fundamentals

SMSF Self-managed superannuation Trustee declarations ATO Paul Delahunty Auditors

The files of many SMSF auditors are currently missing some fundamental documentation elements involving basic trustee obligations.

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Estate Planning, SMSF

Conflict protection on death essential

Will Conflict Power of attorney Self-benefit authority deed Executor SMSF Self-managed superannuation

Practitioners must put in place protections to deal with conflict when taking on certain roles when an SMSF member passes away.

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Investments, SMSF

Integro unlocking private markets for SMSFs

Integro Private Wealth private markets SMSF Fund-of-funds Self-managed superannuation Tim Sullivan

A fund manager is providing SMSF members with additional avenues allowing them to access investment opportunities in global private markets.

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