Articles by Darin Tyson-Chan

Auditing, Superannuation

Partial audit outsourcing an option

audit accounting

Accounting firms are beginning to consider partial outsourcing as a compliance solution for the amended auditor independence standards.

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NALI/NALE

Discount availability key to NALE

NALE discount

The NALE rules will only apply to SMSF administration service discounts that have been selectively applied to some staff within an organisation.

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ATO, Pensions

Minimum pension shortfall may trigger reporting dilemma

minimum pension shortfall

Trustees will more than likely face a reporting dilemma should they request the ATO to exercise its discretion to rectify a minimum pension shortfall.

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Investments, Technology

Trading platform tailored for SMSFs

share trading SMSF

SMSF trustees can now access an online share trading platform with functionality specifically designed for their needs.

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Auditing

Audit pooling has practical risks

audit pooling

Inhibiting practical risks may result for audit firms entering into pooling arrangements in order to comply with the amended auditor independence standards.

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Pensions

Reversionary pensions rethink valid

reversionary pensions

Advisers and trustees should reconsider whether or not to make a pension reversionary given the current parameters of the superannuation system.

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Pensions

Minimum drawdown most important for death benefit pensions

death benefit pensions

It is most important for trustees to ensure the minimum drawdown amount is met for any death benefit pensions operating within an SMSF.

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Auditing

APES 110 has impacted slow audits

APES SMSF audits

The amended auditor independence standards contained in APES 110 have already impacted some SMSF audits that were unable to be completed before 1 July 2021.

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Superannuation

Rare benefit release gains relevance

super condition release

A relatively obscure unrestricted superannuation condition of release for SMSFs may now become more relevant as a result of recent legislative changes.

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Cryptocurrency, Superannuation

Ownership a cryptocurrency issue

SMSFs cryptocurrency

The SMSF asset ownership rules have the potential to result in compliance issues for funds looking to invest in cryptocurrency.

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