News : Regulation

Compliance, Regulation, Superannuation

Complex super rules cost thousands

Australians could be retiring with thousands of dollars more if the superannuation system was simplified.

Australians could be retiring with thousands of dollars more if the superannuation system was simplified.

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Compliance, Documentation, Legislation, Pensions, Regulation

Pension documentation flexibility needed

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

Pension documentation should be drafted in the most flexible manner to allow trustees to manage their minimum pension obligations efficiently.

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Auditing, Compliance, Cryptocurrency, Investments, Legislation, Regulation

Crypto audit guidelines issued

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

The ATO has provided auditors with a set of guidelines to assist them in the servicing of SMSFs with allocations to cryptocurrency.

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Investments, Regulation

Research house scrutiny needed

More attention needs to be paid to the potential responsibilities of research houses following recent high-profile financial product collapses.

More attention needs to be paid to the potential responsibilities of research houses following recent high-profile financial product collapses.

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Administration, Compliance, Legislation, Regulation

ATO reveals common admin errors

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

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Auditing, Compliance, Documentation, Legislation, Regulation

Flag deed chain problems in audit

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

Auditor obligations to ensure a deed is executed correctly should extend to checking it remains compliant if old or amended.

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ATO, Auditing, Compliance, Legislation, Regulation

Breach leniency contrasts audit focus

The ATO has supposedly been far more lenient with trustees who have breached super laws than with the auditors who have identified the problems.

The ATO has supposedly been far more lenient with trustees who have breached super laws than with the auditors who have identified the problems.

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Auditing, Compliance, Legislation, Regulation

All audit relationships need scrutiny

Auditors who engage with a non-financial services business and also audit the proprietor’s SMSF might breach auditor independence rules.

Auditors who engage with a non-financial services business and also audit the proprietor’s SMSF might breach auditor independence rules.

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Compliance, Documentation, Legislation, Regulation

Dentists receive super release guidance

The ADA has released new guidelines to remind dentists of their responsibilities if patients want to use super to pay for treatment.

The ADA has released new guidelines to remind dentists of their responsibilities if patients want to use super to pay for treatment.

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Compliance, Legislation, Regulation

Compassionate release warning issued

A joint warning from two industry regulators has been released to address the inappropriate early release of super benefits on compassionate grounds.

A joint warning from two industry regulators has been released to address the inappropriate early release of super benefits on compassionate grounds.

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