News : SMSF

Business News, financial advice, SMSF, Superannuation

LRBA repayment plan required

Auditors are likely to insist on seeing a full repayment schedule for an SMSF related-party loan to ensure compliance with PCG 2016/5.

Auditors are likely to insist on seeing a full repayment schedule for an SMSF related-party loan to ensure compliance with PCG 2016/5.

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NALI/NALE, SMSF, Superannuation, Tax

LCR confirms post-acquisition NALE view

ATO revised draft guidance has amended the application of NALE to specific assets after their acquisition with regard to capital gains.

ATO revised draft guidance has amended the application of NALE to specific assets after their acquisition with regard to capital gains.

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Accounting, Legislation, SMSF, Superannuation, Tax

Board finalises conduct code guidance

Tax agents must adhere to eight new reforms finalised last month by the TPB, which is committed to supporting the transition via education.

Tax agents must adhere to eight new reforms finalised last month by the TPB, which is committed to supporting the transition via education.

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Administration, Appointments, Business News, SMSF, Superannuation

New ASIC chief executive named

ASIC has appointed a new chief executive after a recruitment process that considered both local and international candidates.

ASIC has appointed a new chief executive after a recruitment process that considered both local and international candidates.

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Investments, Legislation, SMSF, Superannuation

Proper CSLR process possibly omitted

New information obtained by the FAAA indicates the requirement to perform an analysis of the CSLR before its implementation may have been overlooked.

New information obtained by the FAAA indicates the requirement to perform an analysis of the CSLR before its implementation may have been overlooked.

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Administration, SMSF, Superannuation, Trusts

ATO issues annual return reminder

SMSF trustees have been reminded to lodge their SMSF annual return with the ATO’s February deadline drawing closer.

SMSF trustees have been reminded to lodge their SMSF annual return with the ATO’s February deadline drawing closer.

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ATO, SMSF, Superannuation

Death pension minimum rules unclear

The fate of reversionary pensions that do not meet their minimum payment obligations is unclear, with previous ATO guidance on the matter no longer available.

The fate of reversionary pensions that do not meet their minimum payment obligations is unclear, with previous ATO guidance on the matter no longer available.

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Legislation, Pensions, SMSF, Superannuation

Safe to act on legacy pensions now

SMSF members can act with confidence that any moves to exit a legacy pension now cannot be undone even if parliament winds back the changes later this year.

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financial advice, SMSF, Superannuation

Notes to SMSF accounts very significant

The notes to the financial statements for an SMSF take on particular significance due to the special-purpose nature of these entities.

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Accounting, Retirement, SMSF, Superannuation

End-of-year break time for super check-up

Super fund members should use the holiday break to check the status of their retirement savings and consider whether they needed to seek financial advice.

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