News : SMSF

Documentation, SMSF, Tax

Correct SAR values needed for accurate TSB

SMSF Self-managed super IFPA Institute of Financial Professionals Australia Natasha Panagis Annual return accumulation phase values retirement-phase values total super balance TSB

The correct reporting of a total super balance can be skewed heavily if accumulation and retirement-phase values are poorly reported in an SMSF annual return.

read more
Auditing, SMSF

Short-stay lodging docs obtainable

Accurium, Anthony Cullen, audit, lease, residential property, Frank La Spada, Seamless SMSF, Short-stay accommodation, self managed superannuation, self managed super, SMSF

Acceptable documentation for audit purposes is obtainable for short-stay accommodation properties held within an SMSF as proof of compliance.

read more
SMSF, Technology

The changing face of SMSFs

The character of the SMSF sector is changing, with a younger demographic driving establishments and the increasing use of technology.

read more
Pensions, SMSF

Legacy pension amnesty endorsed

The amnesty regarding legacy pensions has been applauded by the SMSF Association, but it has been noted the measure has fallen short in some areas.

read more
Death benefits, SMSF

SMSFs have greater financial abuse risk

A parliamentary committee has called for a review into how superannuation is used to engage in financial abuse, noting the structure of SMSFs raises the risk of one member abusing another.

read more
Compliance, SMSF

Some compliance breaches need direct action

In the event of a trustee compliance breach, practitioners may have no choice other than to address the problem head on with the fund auditor.

read more
financial advice, Retirement, SMSF, Superannuation

Demand for one-off advice significant

The need for accessible financial advice continues to grow, but many consumers would prefer to pay for it based on specific needs rather than as part of a comprehensive plan.

The need for accessible financial advice continues to grow, but many consumers would prefer to pay for it based on specific needs rather than as part of a comprehensive plan.

read more
Retirement, SMSF, Superannuation

Retiree costs overestimated

The cost of retirement is overestimated by many Australians, highlighting the need for more advice and the reforms that will allow more people to access it.

read more
SMSF, Tax

Tax hit is sole purpose penalty

Trustees may escape an administration penalty for a breach of the sole purpose test but could instead be hit with a heavy tax liability.

read more
SMSF, Tax

Div 296 bill separated into two parts

The Division 296 tax bill has been split into two parts, with the schedules related to the impost separated from those unrelated to the proposed additional charge on superannuation earnings.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.