News : Documentation

Documentation

Stock documents proven unsuitable

SMSF bespoke documents

The repeated use of the same trust or binding nomination document is untenable after a recent court case proved the value of a bespoke document.

read more
ATO, Documentation

Nil balance may indicate non-compliance

SMSF nil balance

The ATO has advised that SMSFs with a nil account balance on 30 June should reflect on the fund’s management as this may be a sign of non-compliance.

read more
Documentation

Splitting documentation order key

SMSF splitting

Super splitting notices must be given in a specific order for trustees to avoid compliance breaches, despite not all regulations being applicable to SMSFs.

read more
Documentation, Estate Planning

Special powers reduce attorney risks

power attorney SMSF

A special power of attorney has the ability to reduce risks and conflicts that can arise from the use of an enduring power of attorney.

read more
Documentation, Strategy

Splitting benefits complicated by SuperStream

Splitting benefits SuperStream

An expert has advised SMSF trustees consider the SuperStream rules before splitting member entitlements to ensure they can be moved out of the fund in the correct manner.

read more
ATO, Documentation

ATO trustee declaration critical

SMSF trustee declaration

The importance of the ATO SMSF trustee declaration has been demonstrated by a recent case heard in the Supreme Court of NSW.

read more
Documentation, Property

Property documentation more critical

SMSF property documentation

Standard documentation practices for proof of ownership regarding SMSF properties have a taken on different implications due to a NSW law amendment.

read more
Documentation

Off-the-shelf documents popular

off-the-shelf documents

The majority of advisers participating in a recent survey have indicated they favour using off-the-shelf documents for their SMSF clients.

read more
Administration, Documentation

Director ID applications clumsy

director identification

Advisers are recommending their clients use manual forms to apply for a director ID number due to the troublesome nature of the myGovID app.

read more
Documentation, Technology

E-signature changes not yet practical

E-signature changes

Recent changes to allow electronic signing of trust deeds must be accompanied by similar changes to a wide range of SMSF documents to be useful.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.