Articles by Shelley Banton

Contributions, Tax

Claiming deductible contributions correctly

Strict rules apply to making personal deductible contributions and adherence to them is crucial as the ATO has no related discretionary powers.

Strict rules apply to making personal deductible contributions and adherence to them is crucial as the ATO has no related discretionary powers.

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Contributions, NALI/NALE

How a contribution can trigger NALI

Practitioners must ensure clients adopt a new approach to SMSF asset acquisitions involving an in-specie transfer component for compliance purposes.

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ATO, Auditing

SMSF auditor independence targeted

Recent action against SMSF auditors clearly indicates regulators are enforcing the independence standards for the betterment of the sector.

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Cryptocurrency, Investments

The SMSF reality of owning NFTs

SMSF NFTs

The ability of an SMSF to own non-fungible tokens is not an impossibility, but it does come with many compliance issues that need to be addressed.

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Auditing, Compliance

Five reasons why a data feed isn’t an SMSF audit

There is a perception in the SMSF industry that once a data feed is in place, there is nothing left for an auditor to do.

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Auditing

Why technology won’t replace SMSF auditors

Many SMSF trustees and advisers could be forgiven for thinking recent developments in technology mean SMSF auditors no longer add any value to the audit process.

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Business News

Will real-time reporting affect ECPI claims?

As SMSF advisers struggle to keep up with the myriad changes in the SMSF space, it’s the fallout from events-based reporting that may have the most impact.

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Regulation

Navigating SMSF total super balances

There has been much SMSF industry debate and discussion surrounding the introduction of new legislation as a result of the reforms from the 2016 budget. 

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Auditing

Five ways direct bank feeds impact on SMSFs

The introduction of direct bank feeds into SMSF platforms has been both a blessing and a curse for SMSF auditors and advisers. Direct bank feeds can provide time-saving benefits because they eliminate trawling through pages of disorganised statements. However, depending on the status of the feed, a raft of new issues emerge that can throw […]

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Business News

Are SMSF advisers cannibalising their future?

One of the most common arguments for the continual downward pressure on SMSF audit fees is that advances in technology have made the SMSF audit process cheaper.

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