Articles by Darin Tyson-Chan

Tax, TPB

Updated tax agent bill tabled in parliament

Tax agents code of professional conduct Tax Agent Services (Code of Professional Conduct) Determination 2024 Stephen Jones IFPA SMSF Association amendment

An amended bill dealing with the proposed changes to the code of professional conduct for tax agents has been tabled in parliament.

read more
Compliance, TPB

Tax agent code needs more attention

Tax Agent Services (Code of Professional Conduct) Determination 2024 Stephen Jones Treasury Amendments Joint bodies IFPA SMSF Association CA ANZ CPA Australia FAAA

More work is needed before the final version of the Tax Agent Services (Code of Professional Conduct) Determination 2024 can be seen as satisfactory.

read more
Business News, Education

Course content completion date revealed

Heffron Super Extension Meg Heffron Super Intensive Day Super Foundations Education course

Heffron has announced when it expects all of the educational content formulated for its Super Extension course to be completed.

read more
Death benefits

Assets key in benefit payment timing

SMSF auditor SMSF assets Self-managed superannuation BDO Shirley Schaefer death benefit payments

The entire circumstances relating to SMSF assets need to be considered in determining the realistic timeline applied to death benefit payments.

read more
Auditing, Insurance

Auditor PI cover familiarity needed

Professional indemnity insurance PI insurance SMSF auditor DBA Lawyers Bryce Figot

SMSF auditors should check their PI insurance policy to determine if it will cover costs arising from a regulator’s review.

read more
NALI/NALE

NALI capital gain offsets need care

Non-arm’s length expenditure NALE non-arm’s length income NALI Capital gains SMSF Self-managed superannuation Accurium Mark Ellem

SMSFs must exercise great care when they are looking to offset a capital gain on a NALI-tainted asset with a capital loss.

read more
Trusts

SMSF TIS obligations more severe

Trust income schedule SMSF Self-managed superannuation Accurium Mark Ellem

The new requirement to complete a trust income schedule for trust and managed fund distributions is more imposing for SMSF trustees.

read more
ATO, Superannuation

Line between adviser and promoter thins

Illegal early release Illegal early access superannuation SMSF Association Mary Simmons PS LA 2021/1

The most recent update of Practice Statement Law Administration 2021/1 has broadened the ATO’s powers regarding illegal early release schemes.

read more
Property

Property upgrade funding tricky

Related party Accurium Mark Ellem SMSF Self-managed super commercial property improvements

Having a related-party tenant of an SMSF commercial property pay for improvements to the asset can pose a real risk of breaching the SIS Act.

read more
Pensions

TR 2013/5 update has TRIS impact

Transition to retirement income streams TRIS Minimum pension SMSF Self-managed superannuation Mark Ellem Accurium

The impact of the update to TR 2013/5 will not be confined to retirement-phase pensions and will extend to transition-to-retirement income streams as well.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.