News : Administration

Administration, Superannuation

Regular processing crucial to SMSF compliance

SMSF administrators should consider processing funds on a monthly or quarterly basis in order to ensure better fund compliance with ATO requirements.

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Administration, ATO

ATO updates guidance on fund error disclosure

The ATO has requested that funds making voluntary disclosures over errors disclose how they may have occurred, who was responsible and what had been done to tackle the problem.

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Administration, ATO

ATO improves online facilities

Practitioners providing administrative and compliance services for SMSF clients now have a better online facility with which to lodge transfer balance account reports and access transfer balance account information.

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Administration, Superannuation

Class enhances TBAR functionality

Class has made enhancements to transfer balance account report functionality following the release of a new ATO online service portal.

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Administration

Call for activism over six-member rule

I Love SMSF founder Grant Abbott has called on sector practitioners to email members of the Senate immediately imploring them to pass the legislation that will change the maximum number of members in a self-managed fund from four to six. Abbott sent his call to action out via email and social media in a message […]

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Administration, ATO

ATO to speed up establishment procedure

The time lag from when an SMSF is established to when it is able to receive contributions is going to be significantly shortened.

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Administration, Auditing

Audit caution more likely with unlisted assets

Recent court cases are likely to temper how auditors view unlisted assets inside an SMSF portfolio.

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Administration, Compliance, Platforms

Migration main focus for SuperConcepts

New SuperConcepts chief executive Adrian Urquhart has nominated service consolidation and growth as his key priorities.

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Accounting, Administration, Tax

Advisers need solid ECPI knowledge

Financial advisers need to have a firm grasp on exempt current pension income and segregation rules as they are no longer just the accountant’s domain.

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Accounting, Administration, Pensions

Legacy pensions require further attention

SMSF administrators and actuarial experts say they still see legacy pensions, such as defined benefit pensions, in SMSFs.

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