News : SMSF

Administration, SMSF

ATO extends wind-up timeframe

SMSF wind-up timeframe

The timeframe open for trustees to finalise the closing of an SMSF after the lodging of the final annual return has been extended.

read more
ATO, SMSF

Notice of intent must be acknowledged

Notices of Intent

The ATO has reminded trustees they must acknowledge any Notices of Intent received and update SMSF details promptly prior to the end of the financial year.

read more
Auditing, SMSF

Courts extending audit duties

SMSF auditors duties

Legal rulings are forcing SMSF auditors to cover off issues not included in their legislative, regulatory and professional obligations.

read more
financial advice, SMSF, Superannuation

SMSF advice a possibility from APRA fund

SMSF advice

Calls to allow APRA-regulated funds to provide advice may mean they also have to consider a member’s SMSF benefits in the circumstances of that advice.

read more
SMSF, Strategy

Exit strategy must include incapacity

Exit strategy incapacity

The inclusion of a plan to manage trustee incapacity as part of an SMSF exit strategy is arguably more important than addressing a member’s death.

read more
ATO, Compliance, SMSF

Loss no reason to ignore compliance order

financial loss ATO order

Financial loss will not be considered a key reason for an SMSF to avoid following a contravention rectification order issued by the ATO.

read more
Administration, Compliance, SMSF

Written orders key for wind-ups

SMSF wind-up instructions

Written fund member instructions regarding the treatment of assets in the event of an SMSF wind-up are imperative for advisers to mitigate their risk.

read more
SMSF, Superannuation, Tax

Super changes benefit unions, ALP

Superannuation changes unions

Proposed changes to super will benefit union-owned industry funds, which support the government introducing these measures, an SMSF industry veteran has claimed.

read more
ATO, Compliance, SMSF

Regulator reminds trustees of release process

ATO release reminder

The ATO has reminded trustees they are required to respond to requests from members to release funds and has detailed the processes it expects will be used.

read more
Pensions, SMSF

Legacy pensions a missed opportunity

Legacy pensions

Having no reference to the issue of legacy pensions in the 2023 federal budget has been labelled as a missed opportunity given other super measures.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.