News : Documentation

Reporting deadline may return

March 1, 2021

The preparation of SMSF financial statements may yet have a deadline imposed on it with Treasury concerned by the open timeframes used.

read more

ATO, Documentation

ATO flags SAR non-lodgement letters

March 1, 2021

Tharshini Ashokan

The ATO will be sending letters to SMSF trustees with outstanding annual returns warning them a failure to lodge will carry penalties.

read more

Accounting, Documentation

Class acquires document provider

February 16, 2021

Tharshini Ashokan

SMSF technology platform Class has acquired documentation service ReckonDocs as part of its ongoing transformation strategy.

read more

Documentation, Succession Planning

Care needed over LPR timing

February 15, 2021

Darin Tyson-Chan

The length of time it takes to commence death benefit payments can impact the appointment of a legal personal representative.

read more

Documentation

Validity key in avoiding rent breaches

February 9, 2021

Jason Spits

As rent relief measures come to an end, SMSFs have been reminded that only formal legal documents can be accepted by an auditor and the ATO when assessing the income of the fund.

read more

ATO, Documentation, Superannuation

TBC change needs data access

February 8, 2021

Jason Spits

The SMSF sector will need access to data held by the ATO related to transfer balance caps (TBC) ahead of its indexation to prevent further confusion and errors, an administrator has claimed.

read more

Documentation, Technology

Keep processes tight using new technology

February 8, 2021

Darin Tyson-Chan

High standards regarding SMSF approval procedures need to be maintained despite the increased use of technology.

read more

Documentation, Superannuation

ATO ruling has hidden influence impact

January 27, 2021

Jason Spits

The level of influence exerted by different parties within a 50/50 unit trust structure may come under greater examination following a recent ATO ruling.

read more

Documentation, Estate Planning

Trustee structure equal to BDBN in importance

January 21, 2021

Tharshini Ashokan

In addition to ensuring they have a valid BDBN in place, members concerned about what will happen to their super upon their death need to consider who will be in control of their fund, an SMSF technical expert says.

read more

Documentation

Case law unsettled on BDBNs by attorneys

January 18, 2021

Jason Spits

An ongoing set of legal cases in different states has yet to find common ground on whether an attorney can make a BDBN to direct super benefits on behalf of a SMSF member.

read more