Articles by Darin Tyson-Chan

ATO, Tax

ATO confirms TSB for Div 296 tax

ATO Total superannuation balance Division 296 NALE CGT Transfer balance cap

The redefinition of a person’s total super balance as to the implementation of the $3 million soft cap has been confirmed by the ATO.

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Property

Property deposit payer key

SMSF property Deposit Business Depot Neal Dallas

It is imperative for deposits on SMSF properties to be made in the fund’s name to avoid any unwanted compliance breaches.

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Legislation, Retirement, Superannuation

Product not the retirement income fix

Retirement income products Superannuation Actuaries Institute

A number of strategic elements must be combined rather than just product to formulate a satisfactory retirement income solution.

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Legislation, Regulation, Superannuation

Coalition recognises nature of super

Angus Taylor Superannuation policy Government SMSF

The shadow treasurer has outlined the approach a future coalition government will use with regard to superannuation policy.

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Auditing, Compliance, Property

Fraud risk with short-term rentals

Airbnb Audit Short-term rental Fraud SMSF Lease agreement Part A qualification Fraud risk statement

SMSFs holding property to be rented out on platforms such as Airbnb pose a particular type of compliance risk auditors must note.

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ATO, Compliance, Property, Regulation

ATO hot on rental property expenses

Rental property Deductions ATO NALI

The ATO is currently focusing on deductible expenses associated with investment properties with regard to its compliance enforcement procedures.

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Administration, ATO, Auditing

Diversification needs audit focus

Diversification Investment strategy Auditors ATO Auditor contravention report

The ATO has specifically expressed what it expects from auditors with regard to reviewing the diversification of an SMSF investment strategy.

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Administration, SMSF, Tax

Capital gain type tax benefit key

Capital gains tax Capital gains SMSF Offset One-third discount

The tax position of an SMSF can be maximised by recognising the types of capital gains ineligible to have the allowable discount applied to them.

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Auditing, Investments, SMSF

Private company valuations unique

Unlisted assets Private companies Valuations SMSF Market value Audit evidence

Different techniques are required to overcome the difficulties of establishing the value of an investment by an SMSF in a private company.

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