Trustees must undertake reasonable steps to ensure an SMSF’s assets and investments can be valued fairly and objectively ahead of adding them to the fund, a technical expert has warned.

Acquiring shares from employee share schemes (ESS) in an SMSF can be attractive for many reasons, but SMSF trustees have to be mindful of the in-house asset and the related-party acquisition rules.

BGL Corporate Solutions has released two additional actuarial certificate providers to its Simple Fund 360 software.

The corporate watchdog today released fresh webpage guidance and information sheets to help those holding a limited Australian financial services licence (AFSL) and their representatives understand their key obligations.

While the ATO has landed on the less frequent option for SMSFs lodging transfer balance cap reports (TBAR), advisers must still ensure clients thoroughly understand the timing and process for events-based reporting, a specialist industry law firm has warned.

The ATO is in the process of examining all SMSF investments in unit trusts as part of its compliance activities regarding related-party transactions, a technical expert has revealed.

In the coming months the ATO will be increasing its activity against the most serious and common compliance breach, being SMSFs with significant balances that have continually failed to lodge an annual return.

The SMSF industry will eventually move to a true real-time processing world as part of its evolution through using technology, as well as its response to newer compliance developments such as events-based reporting.