News : SMSF

Administration, Compliance, Management, NALI/NALE, SMSF

AAT overturns NALI interest ruling

NALI interest income AAT

The AAT has ruled interest derived from a complex lending arrangement established by an SMSF trustee was not NALI despite the arrangements being at non-arm’s length.

read more
Administration, Compliance, Regulation, SMSF, Trusts

Lost deeds undermine trust functions

Lost trust deed

A lost trust deed can bring into question the ability of trustees to carry out their duties and cast doubts over the operations of the trust.

read more
Investments, NALI/NALE, SMSF

Ask clients for arm’s-length proof

arm's-length evidence

Given the complexity of some investment arrangements, SMSF trustees should be providing evidence they have acted on an arm’s-length basis.

read more
Compliance, SMSF, Trusts

Year end not trust payment deadline

SMSF trust distribution payment deadline

Trust distributions payable to SMSFs must be paid as soon as possible after the amount involved has been determined so as to eliminate compliance risk.

read more
Compliance, financial advice, Regulation, SMSF

Use tech services with caution

Financial advice technical services

SMSF advisers should use technical support services in moderation when offering advice on complex or technical matters outside their expertise.

read more
Auditing, SMSF

Auditors Institute expands membership

Auditors Institute membership

Following a rebrand, the body representing SMSF auditors has expanded its membership to include audit practitioners working outside the sector.

read more
Administration, Compliance, Regulation, SMSF

Deeds can force member exits

SMSF member exit deed

SMSF members can be forced out of a fund, but only in cases where deeds have been structured to include trigger events requiring their exit.

read more
ASIC, Compliance, SMSF

ASIC sues Dixon Advisory director

ASIC Paul Ryan Dixon Advisory

ASIC has taken legal action against a company director for allegedly breaching his duties and failing to act in the interests of creditors during insolvency.

read more
Residential Property, SMSF

Airbnb rental is not a business

SMSF business AirBnB

Renting out an SMSF residential investment property using Airbnb does not qualify as a situation where the trustee is running a business.

read more
ASIC, SMSF

Director pleads guilty to dishonest conduct

Dishonest conduct

A former director who used SMSFs in relation to the misappropriation of over $500,000 of client funds has pleaded guilty to dishonest conduct.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.