News

Documentation, Pensions

Pension status change possible

Self-managed superannuation SMSF Reversionary pension Status Cooper Partners Financial Services Jemma Sanderson DBA Lawyers Dan Butler

It is possible to change the reversionary status of a pension inside an SMSF as long as it remains a pension and the fund’s supporting documents allow it.

read more
financial advice

Demand for advice specialists grows

Financial advisers Specialists

The provision of financial advice has become increasingly complex due to the diverse needs of clients and a shortage of specialist practitioners working in the industry.

read more
ASIC, financial advice

Case against Dixon director dismissed

Dixon Advisory and Superannuation Services E&P Operations insolvency ASIC Paul Ryan Federal Court

A case brought by ASIC against a Dixon Advisory director alleging a breach of duties in regards to decisions about the insolvency of the advice group has been dismissed.

read more
Auditing, Compliance, SMSF

Incomplete audit files a key error

Audit file Notation Market valuation Error

Lack of notation in the official files relating to procedures performed as part of an SMSF audit is the most common error made by practitioners.

read more
Pensions

Legacy pension exit a rational choice

Legacy pensions SMSF Self-managed superannuation Townsends Business and Corporate Lawyer Michael Hallinan

Proposed laws to allow exits from legacy pensions are a gift from the government and in most cases there would be few good arguments not to use them.

read more
Auditing, LRBA, NALI/NALE

Non-commercial LRBAs too risky for auditors

Related-party NALI non-arm's length income LRBA Limited recourse borrowing arrangement Auditor

Related-party LRBAs without evidence proving they are on commercial terms are unlikely to receive approval from SMSF auditors due to NALI risk.

read more
Regulation, SMSFA

Promoter penalty changes untested

SMSF Association Promoter penalty PSLA 2021/1 ATO

The SMSF Association has proposed more time is needed to evaluate the impacts of an updated penalty regime for promoters of tax exploitation schemes.

read more
Compliance, SMSF

SAR non-lodgement now more concerning

SMSF annual return Non-lodgement ATO SAR SMSF

SMSFs failing to lodge annual returns is becoming a bigger problem for the sector as a whole and is causing significant angst for the ATO.

read more
Pensions, Regulation, Strategy

TTR strategy holds up amid changes

Concessional contribution cap Stage three tax cuts Superannuation guarantee Transition-to-retirement pension TTR Colonial First State Tim Sanderson

The merits of implementing a transition-to-retirement income stream have not been dulled by recent changes to certain superannuation parameters.

read more
ATO, Platforms

Check pension payment exemption usage

SMSF Self-managed superannuation Minimum pension ATO Exemption BDO Peter Crump

In the event of a minimum pension not being met, SMSF practitioners must establish whether a trustee has previously used the self-determination exemption.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.