Articles by Darin Tyson-Chan

Auditing, Documentation

Data feeds not an auditor independence exception

data feeds auditor standards

Data feeds cannot be used as proof SMSF financial statements have been prepared by an accounting firm in a “routine and mechanical” way in the context of the new auditor independence standards.

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Auditing

Audit transition period requested

auditor transition period

The SMSF Association would like a proper transition period to be granted by the ATO to allow mid-tier accounting firms to adapt to the new auditor independence standards.

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Auditing

Audit quality could now improve

SMSF audits quality

The quality of SMSF audits could improve as a direct result of new independence standards imposed on auditors, a specialist practitioner has said.

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ETFs, Investments

SMSFs favouring ETF access to gold

SMSFs ETFs gold

SMSFs are predominantly choosing ETFs as their preferred means of investing in gold, a specialist manager has said.

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Accounting, Auditing

Auditor pick key for accountants

SMSF auditor

The impact of a change of auditor on an accounting firm performing the administration for SMSFs needs careful consideration, a specialist practitioner has said.

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Tax

Tax practitioner COVID concessions extended

Tax practitioners COVID concessions

Tax practitioners have had the COVID-19 concessions regarding their renewal and registration requirements extended.

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Superannuation, Tax

CGT least harmful super tax tweak

CGT superannuation tax

Adjusting the capital gains tax concession on super fund assets is the least disruptive option should the government look to the country’s retirement savings framework to repair the budget deficit caused by the coronavirus, a specialist manager has advised.

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Investments

Growth assets an SMSF priority

SMSF capital growth

Maximising capital growth has become more important than ever before to SMSF trustees, the latest sector research has shown.

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Pensions

Pension payments over minimum

Minimum pension

The latest ATO statistics have shown SMSF members in retirement have historically been drawing down more than the minimum pension required.

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Pensions

Pensions face indexation conflict

lifetime pensions indexation

SMSFs with a lifetime pension in place could face conflicting legislative instruments due to the current economic climate, a technical expert has said.

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