News : SMSF

Compliance, SMSF

SAR non-lodgement now more concerning

SMSF annual return Non-lodgement ATO SAR SMSF

SMSFs failing to lodge annual returns is becoming a bigger problem for the sector as a whole and is causing significant angst for the ATO.

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Administration, SMSF, Technology

SMSF management becoming a breeze

SMSF Administration AI Artificial intelligence

The use of artificial intelligence can make SMSF management significantly easier and give trustees peace of mind with regard to compliance.

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Administration, SMSF

AI a good SMSF administration fit

Artificial Intelligence AI SMSF administration self-managed superannuation Olivia Long

Artificial intelligence has the ability to automate many SMSF administration procedures and improve sector efficiency.

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financial advice, SMSF

CSLR flags SMSF advice

SMSF advice Self-managed superannuation CSLR Compensation Scheme of Last Resort AFCA Australian Financial Complaints Authority claims

The Compensation Scheme of Last Resort has found more than 40 per cent of claims it has received so far relate to SMSF advice, noting some poor practices are still occurring.

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ATO, SMSF, SuperStream

Push to use SuperStream needed

SuperStream Rollovers SMSF self-managed superannution ATO ASF Audits Shelley Banton ACIS

Auditors are finding SMSF trustees are still not using SuperStream for rollovers out of their fund and the failure to do so will be reported as a breach to the ATO.

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Administration, SMSF

Exit plan an essential element

SMSF Exit plan Wind-up Deed

Trustees who decide an SMSF is no longer a viable option as a retirement savings vehicle can benefit greatly from formulating an exit plan.

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SMSF, Technology

Specialists favouring technology

SMSF specialists Technology

SMSF specialists have differentiated their practice activities in three key areas over the past year with respect to servicing their clients.

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Compliance, Property, SMSF

SMSF in administration can sell property

Re Absolute Vision Technologies SMSF Property Administration Sladen Legal Terence Wong Self-managed superannuation

The NSW Supreme Court has ruled a former SMSF trustee can sell a property while in administration on the provision the fund’s existing members consent to the sale.

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Investments, SMSF

Foreign property not ideal for SMSFs

Overseas property Investment SMSF Self-managed superannuation fund Audit Charge over property Risk

SMSF trustees looking to invest in overseas property may face external risks that are hard to manage and foreign laws that may conflict with Australian regulations.

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