Being certain what expenses create assessable income within an SMSF is a key starting point to ensuring the correct deductions are made.

An SMSF expert has warned trustees to consider the implications of appointing numerous children as joint powers of attorney.

SMSFs with a corporate trustee looking to use a corporate power of attorney may find its application limited by superannuation laws.

Corporate trustee SMSFs need to ensure there are no conflicting statements in the trust deed and company constitution to avoid issues.

The use of electronic signatures has the ability to create an audit trail that can increase the degree of professional risk practitioners face.