Articles by Darin Tyson-Chan

Pensions

ATO pension discretion needs care

ATO pension discretion

Best practice dictates advisers adopt a conservative approach where an SMSF client is relying on ATO discretion regarding a minimum pension breach.

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LRBA

Compliance risk from LRBA default

LRBA loan guarantor

The instance of a lender to an SMSF exercising an LRBA guarantor clause could lead to a compliance breach of superannuation (SIS) law.

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Auditing

Audit lessons from Caddick case

smsf auditors caddick

SMSF auditors must heed the lessons that have emerged from the fraudulent activities uncovered in the well-publicised Melissa Caddick case.

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ATO, Superannuation

SMSF complaints against ATO low

SMSFs complaints ATO

The number of SMSFs accessing the Tax Ombudsman complaints service regarding actions brought against them by the ATO are considerably low.

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Contributions, Downsizer

Non-super laws impact downsizer

assets test downsizer contributions

The strategic advantage of making downsizer contributions may be diluted by pending amendments to current social services laws.

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Investments

Unlisted investments detail a must

SMSF unlisted investments evidence

Several sources of evidence should be sought by SMSF auditors to ensure an investment in an unlisted entity does not involve a related party.

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Business News

Prime Financial Group broadens SMSF presence

Prime Financial Intello

Gold Coast-based SMSF administration service provider Intello has been acquired by Prime Financial Group as part of a structured expansion program.

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Auditing

ACRs can add value

auditor contravention reports value

An auditor contravention report can add value to the running of an SMSF and as such accountants and trustees should not be fearful of them.

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Contributions, Death benefits

Call for budget to address four key issues

death benefit lump sums

An industry body has made a call to change the laws governing lump sum death benefit payments and unused concessional contributions caps.

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Contributions

Downsizer bill gets third reading

Downsizer bill

The bill containing the measure to reduce the qualification age for downsizer contributions is one step closer to being passed into law.

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