News : SMSF

SMSF performance very strong

April 26, 2023

The latest sector research has confirmed SMSF investment returns were comparable to those of APRA funds for the 2020 and 2021 financial years.

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Residential Property, SMSF

Care needed with online valuations

April 26, 2023

Darin Tyson-Chan

A degree of caution should be exercised when using online services to determine the value of a residential property owned by an SMSF.

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ASIC, SMSF

Ex-adviser jailed for six years

April 26, 2023

Todd Wills

A former Sunshine Coast financial adviser has been sentenced to six years’ jail for fraud after withdrawing funds from his SMSF clients’ accounts for personal use.

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Regulation, SMSF

Knowledge of SIS sections critical

April 24, 2023

Darin Tyson-Chan

Knowing the specific differences between parts of the SIS Act that may seem the same is critical to allow advisers to find optimal client solutions.

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Administration, SMSF, Trusts

Financials insufficient for some valuations

April 20, 2023

Jason Spits

Audited financial statements do not provide sufficient information on which to base the valuation of unlisted securities or investments in a unit trust, but events during the financial year may provide the required data.

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SMSF, SMSFA, Superannuation

Soft cap discriminatory to SMSFs

April 19, 2023

Darin Tyson-Chan

The government has been accused of showing bias against SMSFs in its proposal to implement a $3 million soft cap on superannuation members.

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Administration, SMSF, Strategy

Question capability before strategy

April 19, 2023

Jason Spits

SMSF advisers focused on creating an investment strategy for clients should perhaps firstly consider if an SMSF is even suitable for them.

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Auditing, Investments, SMSF, Strategy

Poor investment strategies qualified

April 18, 2023

Darin Tyson-Chan

The employment of a generic SMSF investment strategy has provided sufficient grounds for a qualified audit report for a prominent practitioner.

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Accounting, Administration, SMSF

Class improves its market presence

April 18, 2023

Darin Tyson-Chan

Class has recorded a jump in the number of clients using its suite of products for the 12-month period to the end of March 2023.

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Auditing, SMSF, Superannuation, Tax

Alternative soft cap method mooted

April 17, 2023

Darin Tyson-Chan

The SMSF Auditors Association of Australia has suggested a different calculation process be used for the proposed tax on super balances over $3 million.

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