News : Administration

Administration, ATO

ATO addresses ineligible downsizer contributions

ineligible downsizer contributions

The ATO has highlighted the correct administration process for ineligible downsizer contributions for SMSF trustees.

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Administration, Documentation

EPOAs may save trustees future trouble

SMSF enduring power of attorney

Trustees who do not grant an enduring power of attorney while they have the capacity to do so may place their SMSF at risk of being non-compliant in the future, an SMSF expert says.

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Administration, Compliance

SMSF record-keeping essential to compliance

SMSF record-keeping requirements

Trustees should be aware of their record-keeping requirements under the SIS Act in order to stay compliant, an expert says.

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Administration, Regulation

SMSF administrator calls for SuperStream clarity

An SMSF stakeholder has called for clarity on what funds should do about the introduction of SuperStream now its implementation date has been postponed.

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Administration

SuperConcepts to set up innovation lab

SuperConcepts will set up an innovation lab to develop new automated solutions and a range of prototypes for SMSF software.  

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Administration, Platforms

Praemium expands SMSF admin service

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Praemium has continued to build out its SMSF administration service, offering tax and audit reporting services to further benefit existing clients.

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Administration, Strategy

30 June traps avoidable, but record-keeping vital

Advisers have options to make contributions to an SMSF in the days leading up to the end of the financial year, but need to be proactive in recording dates of transfer.

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Administration

Member values key to effective SMSF administration

SMSF members; administrators

SMSF members are increasingly likely to seek out administrators who prioritise long-term, intangible values by providing guidance and building rapport, as well as offering low cost and efficiency.

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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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