Trustees must ensure any purchase from a related party is not a proxy for a loan or financial assistance to avoid breaching their obligations.

SMSFs could eventually have a mandatory annual performance assessment applied to them as an extension of the measure introduced for MySuper funds in the federal budget, technical experts have predicted.

Wind-ups of SMSFs fell to previously unseen lows in the 2020 financial year, resulting in a much higher number of net establishments compared to 2019, the ATO’s latest statistics reveal.

The process of indexation is likely to be applied to the concessional contributions cap from 1 July 2021 due to the effect of COVID-19, a sector specialist has said.

The ATO has expanded its guidance on how death benefit rollovers should be reported and payments made with specific instructions for SMSFs.

A technical expert has questioned how the existence of multiple retirement savings accounts for one person will affect the new stapled super rule announced in the budget.

Chartered Accountants Australia and New Zealand (CAANZ) has welcomed last night’s federal budget superannuation reforms, which will ensure Australians keep their super fund when they change employer and up-end the default fund regime. The accounting body said the “unexpectedly significant” Your Future, Your Super package, due to commence on 1 July 2021, would end the […]