Articles by Darin Tyson-Chan

Death benefits

Financial dependency proof substantial

A significant amount of evidence is required to support a claim that a person can receive superannuation death benefits due to financial dependency.

read more
ATO, Documentation

ATO quantifies 2023 SAR non-lodgement

The number of SMSFs that have not lodged an annual return for the 2023 income year is cause for concern with the ATO stating the problem is increasing in size.

read more
NALI/NALE

No SIS edict on NALI tax allocation

SMSF trustees cannot rely on the SIS Regulations to determine whether a NALI liability has to be allocated to a particular superannuation interest.

read more
Death benefits

Parental bond not super interdependency

A conventional relationship between a parent and a child does not automatically satisfy the definition of super death benefit interdependency.

read more
ATO, Compliance

Loans to mask illegal early access rising

An increasing number of SMSF trustees and members are attempting to classify the illegal early access of benefits as loan arrangements.

read more
Contributions

Contributions deductibility not a given

Certain circumstances or actions can prevent an individual from claiming a tax deduction for a personal superannuation contribution.

read more
Business News

Inaugural financial industry awards presented

The inaugural Australian Financial Industry Awards were presented by the Institute of Financial Professionals Australia last Friday evening.

read more
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.

read more
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.

read more
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.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.