Articles by Darin Tyson-Chan

Accounting, Administration

Automated administration flourishing

SMSF automated administration

The use of SMSF administration software has increased among accounting firms and shows no signs of abating in the immediate future.

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ATO, Compliance

Reported contraventions on the rise

ATO auditor contravention

Compliance breaches reported to the ATO via auditor contravention reports rose significantly over the 2021 financial year.

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NALI/NALE

NALE identification an issue

NALE identification SMSF

Identifying and acting upon NALE issues may not be straightforward and the assumption cannot be made the SMSF audit will be the solution.

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Estate Planning

Periodic BDBN updates prudent

BDBN SMSF

It is a prudent for advisers and their SMSF clients to periodically update any binding death benefit nominations they may have in place.

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Documentation, Pensions

Pension PDS caution required

pension PDS

Advisers should ensure they include a product disclosure statement in the pension information they issue to their clients.

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NALI/NALE

NALE goes beyond related parties

NALE related-party

The non-arm’s-length expenditure rules as defined by LCR 2021/2 are not confined exclusively to related-party transactions.

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Estate Planning

Calls to action can limit liability

liability estate planning

Issuing simple estate planning call-to-action statements to SMSF clients can effectively allow advisers to abrogate any liability they may face.

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Cryptocurrency

Digital asset education service launched

digital asset education

A fund manager has launched a research facility to provide much-needed information about digital assets such as Bitcoin.

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Accounting, Business News

Class, Cloudoffis team up for year-end service

Class Cloudoffis

Class and Cloudoffis have formed a partnership to provide SMSF practitioners with a new workpaper solution for their end-of-year processes.

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Portfolio Construction

JP Morgan joins OpenInvest platform

JP Morgan OpenInvest

SMSF members can now access model portfolios constructed by JP Morgan Asset Management via the OpenInvest digital marketplace.

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