Articles by Darin Tyson-Chan

Auditing

Asset valuation issues to widen

asset valuation

Instances of SMSF auditors having to modify their independent audit reports due to an inability to obtain sufficient evidence regarding asset valuation as a result of the coronavirus economic environment are expected to rise, the ATO has said.

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Auditing

Early access audit role noted

auditors superannuation access

The role of SMSF auditors has been stipulated by the ATO with regard to the early super access COVID-19 relief instrument.

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Auditing

No plans for auditor CPD change

SMSF auditors CPD

The ATO has indicated there is no appetite among regulatory agencies to ease the continuing professional development requirements for SMSF auditors.

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Superannuation

Rent relief to go beyond 2020

rent relief

The COVID-19 rent relief instrument may need to be extended beyond 2020 in keeping with the timeframe applied to other measures, an SMSF auditor has said.

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Property, Superannuation

Retaining rent charge not NALI

SMSF rent NALI

An SMSF landlord that does not reduce a tenant’s existing rental expense under the COVID-19 economic relief measure will not trigger a breach of the non-arm’s- length income rules, a specialist sector auditor has said.

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Appointments

Burgess returns to SMSFA

Peter Burgess SMSF Association

Peter Burgess has been appointed as the SMSF Association’s new deputy chief executive and director of policy and education.

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Superannuation

Redundancy another super access window

Redundancy superannuation access

Access to superannuation benefits can be triggered by redundancy, perhaps as a consequence of COVID-19, providing a financial relief measure for certain individuals, a technical services manager has said.

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Financial Planning

Client newsletters not soliciting

newsletters early access

An SMSF Association discussion panel has said it is unlikely the anti-soliciting provisions regarding the COVID-19 early super access advice will include client newsletters.

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Auditing

Auditor bullying can be managed

Auditor intimidation

Situations where an SMSF auditor is being intimidated by a client can be managed if the practitioner cannot resign the account, a leading practitioner has said.

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ETFs

ETFs passing market test

ETFs markets COVID-19

Investor confidence in ETFs improved in February and March when markets were experiencing the most significant COVID-19-driven period of volatility.

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