Articles by Shelley Banton

Auditing, Valuations

Valuing complex SMSF assets

There is a particular methodology to which advisers and trustees must adhere when looking to value SMSF assets that are complex in nature.

There is a particular methodology to which advisers and trustees must adhere when looking to value SMSF assets that are complex in nature.

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SMSF, Trusts

The forgotten Reg 13.22C rule

Trustees looking to enjoy the benefits of a SIS Regulation 13.22C trust must take into account all of the rules pertaining to these structures.

Trustees looking to enjoy the benefits of a SIS Regulation 13.22C trust must take into account all of the rules pertaining to these structures.

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ATO, Compliance, In-house assets

The section 66 blind spot

The ATO’s enforcement policy could be providing trustees with an opportunity to breach SIS Act section 66 without any compliance consequences.

The ATO’s enforcement policy could be providing trustees with an opportunity to breach SIS Act section 66 without any compliance consequences.

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Auditing, Property, Valuations

Can SMSF trustees value property?

The proper valuations of SMSF held properties continues to raise questions among trustees as they remain unclear as to what they can actually do.

The proper valuations of SMSF held properties continues to raise questions among trustees as they remain unclear as to what they can actually do.

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ATO, Death benefits

Six-month death benefit guidance removed

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, ATO, death benefit payments, cashing, SIS Regulation 6.21(1), QC 42934, six months, Shelley Banton, ASF Audits, QC 45254, exempt current pension income, ECPI

The ATO has amended the rules regarding the acceptable timeframe in which trustees can implement when making death benefit payments.

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Compliance, Technology

From MFA to the sock drawer: SMSF security

SMSFs must employ professional security protocols to protect their assets in the wake of an increased number of cyberattacks.

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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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