News : SMSF

Take proactive steps for lost documents

July 11, 2023

SMSF trustees and advisers should consider establishing a new SMSF in the event key operating documents can no longer be found.

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Auditing, Compliance, SMSF

Disclaimers can reduce audit risk

July 10, 2023

Darin Tyson-Chan

SMSF auditors need to provide their clients with a disclaimer stipulating the aspects of the fund that have not been examined to lessen litigation risk.

Repeal NALE or fix related issues

July 10, 2023

Jason Spits

The SMSF Association has called on the government to repeal the NALE provisions or provide solutions to further problems they will create.

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Auditing, Compliance, SMSF

Auditors urged to seek updated valuations

July 10, 2023

Todd Wills

SMSF auditors must exercise caution in approving asset valuations and ensure they are up to date with the respective valuation year.

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Estate Planning, SMSF

Proper BDBN commitment required

July 6, 2023

Darin Tyson-Chan

An estate planning strategy can achieve the desired outcome if the trustees involved respect all aspects of the chosen course of action.

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Regulation, SMSF, Tax

Imputation system changes bad for SMSFs

July 6, 2023

Todd Wills

The proposed changes to the franking credits regime could have a significant impact on trustees who rely on the credits to benefit from lower taxation rates offered by their SMSFs.

Downsizer delay may be wiser

July 5, 2023

Todd Wills

Trustees should consider saving their ability to use the downsizer contribution and utilise their non-concessional contribution caps first, given recent rule changes.

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Property, SMSF, Trusts