News : Regulation

ATO, Regulation, SMSF

ATO bans more SMSF trustees

ATO SMSF trustee disqualification

The ATO has taken action against a further 223 trustees, bringing the total number of disqualified trustees close to 600 for 2023.

read more
Estate Planning, Legislation, Regulation

EPOA system needs national rules

Enduring power of attorney EPOA elder abuse Estate planning FAAA

The use of enduring powers of attorney needs to be standardised across the country to prevent elder abuse and ensure attorneys are fit and proper persons.

read more
LRBA, Property, Regulation, SMSF

Track funding for property repairs

Property repair Property improvement LRBA Limited recourse borrowing arrangement SIS Act

Trustees should be certain of the origin of the funds used to complete a repair or improvement to a property acquired under an LRBA to avoid breaching their fundamental obligations.

read more
Crypto Assets, Cryptocurrency, Regulation, SMSFA

Crypto assets must be regulated

Cryptocurrency Digital assets Regulation

The SMSF Association has flagged gaps in ownership information, risk of fraud and inappropriate advice as key reasons the crypto-asset space should be more tightly regulated.

read more
AAT, Compliance, Legislation, Regulation

Past actions can bar trustee appointment

SMSF disqualified trustees Dishonest conduct SIS act

People who wish to become SMSF trustees must present a clean sheet of behaviour in regards to dishonest conduct as past actions can bar them from being appointed.

read more
Accounting, Legislation, Regulation

Single financial reporting body to be formed

Australian Accounting Standards Board Auditing and Assurance Standards Board Financial Reporting Council amalgamated merger

The government will amalgamate three existing financial reporting bodies into one entity that will implement new climate and sustainability standards.

read more
ATO, Compliance, Death benefits, Documentation, Regulation

Benefit review reinforced by ruling

Death benefit Incapacity Benefit payments Documentation

The need to have up-to-date SMSF documents related to incapacity and benefit payments has been brought to the fore by a recent ATO private ruling on benefit payments after the death of a member.

read more
Administration, ATO, Compliance, Regulation

Clarity needed on illegal access discretion

Illegal early access superannuation ATO discretion tax ruling

Uncertainty over a key tax ruling has raised concerns regarding how the ATO and the tax commissioner might handle cases of illegal fund access by an SMSF.

read more
Compliance, Regulation

Related-party collectable rules strict

SIS Regulations SMSF related party personal use assets collectables

The Superannuation Industry (Supervision) Regulations impose many restrictions on related-party transactions involving personal-use assets of an SMSF.

read more
financial advice, Legislation, Regulation

Draft bill to enact QAR changes released

Quality of Advice Review recommendations Draft legislation

A long-awaited bill to enshrine some of the recommendations of the Quality of Advice Review has been released by Treasury.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.