Articles by Darin Tyson-Chan

ATO, Auditing

Auditor number misuse identified

SMSF auditor number

The ATO has now identified the more serious cases of SMSF auditor number abuse and has vowed to prosecute tax agents connected with them.

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ATO

ATO confirms division 293 tax payment method

Division 293 tax payment

The ATO has informed SMSF trustees and tax agents that division 293 tax liabilities can be paid from superannuation monies.

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Investments

Hunt for yield to intensify

yield interest rates

The continued reduction of the official interest rate will see SMSF investors increase their focus on generating yield from their investments, a global fund manager has predicted.

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ATO

ATO confirms tougher admin penalties stance

The ATO experienced a $1.4 million increase in administrative penalties collected in the 2019 financial year, according to the regulator’s most up-to-date data.

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Financial Planning

Advisers seek NALE fine-tuning

Non-arm’s-length expense

The new non-arm’s-length expense rules governing SMSFs need further clarification as to how they will be applied in some particular situations, financial advisers have said.

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Accounting

AFCA launches complaint tracking tool

AFCA financial complaints tool

A new online tool gives consumers the ability to track the progress and history of financial complaints lodged with the Australian Financial Complaints Authority.

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Investments, Retirement

Capture spread critical for retirement investing

Sequencing risk retirees

Sequencing risk in retirement can be more effectively controlled through investments with managers with greater downside protection without necessarily having the best upside returns, according to an international wealth manager.

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Accounting

Advisers key to managing incapacity

incapacity SMSF trustees

Risks associated with the deteriorating mental capacity of SMSF trustees can be mitigated by a good client-adviser relationship, according to the director of a legal firm.

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Administration, ATO

Annual returns non-lodgement puts $45b at risk

SMSF annual returns

The non-lodgement of SMSF annual returns in 2019 has put in excess of $45 billion in superannuation assets at risk, according to the latest ATO data.

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LRBA

LRBA issue showing improvement

LRBA SMSFs

A commercial property financier has said the problem of SMSFs being established specifically to invest in property using a limited recourse borrowing arrangement (LRBA) is showing signs of waning.

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