News : ATO

Appointments, ATO

New SMSF assistant commissioner appointed

The ATO has named the senior staffer who will oversee the SMSF sector and replace Justin Micale, who has moved to another role within the regulator.

read more
ATO, Compliance

Loans to mask illegal early access rising

An increasing number of SMSF trustees and members are attempting to classify the illegal early access of benefits as loan arrangements.

read more
ATO, SMSF

New funds dominated by middle-agers

The number of middle-aged people setting up an SMSF has continued to rise, with more than 50 per cent of new funds established by people between 35 and 50 years of age.

read more
ATO, Auditing, Compliance

Static asset values can be legitimate

There can be legitimate reasons as to why an SMSF asset has not changed in value over several years, but auditors must document their presence.

read more
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.

read more
ATO, Compliance

Trustee non-compliance increasing

Auditor contravention reports lodged with the ATO have shown a jump in non-compliance among SMSF trustees over recent years.

read more
ATO, Auditing, Documentation

Audit files miss trustee fundamentals

SMSF Self-managed superannuation Trustee declarations ATO Paul Delahunty Auditors

The files of many SMSF auditors are currently missing some fundamental documentation elements involving basic trustee obligations.

read more
ATO, Pensions, Tax

Short pension terms raise red flags

ATO BDO Peter Crump SMSF Self managed superannuation Tax Ruling 2013/5 pension

SMSF members should be wary of short-term pension strategies and adopt a multi-year approach to prevent the process being viewed as a tax avoidance measure.

read more
ATO, Platforms

Check pension payment exemption usage

SMSF Self-managed superannuation Minimum pension ATO Exemption BDO Peter Crump

In the event of a minimum pension not being met, SMSF practitioners must establish whether a trustee has previously used the self-determination exemption.

read more
ATO, Auditing

Platform asset audit guidance issued

Audit report Part A qualification ATO

The ATO has informed trustees that an audit qualification may be unavoidable where evidence to confirm asset ownership held by certain platforms is difficult to obtain.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.