News

LRBA

Compliance risk from LRBA default

LRBA loan guarantor

The instance of a lender to an SMSF exercising an LRBA guarantor clause could lead to a compliance breach of superannuation (SIS) law.

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Property

Timing key in business real property status

business real property

The status of business real property in an SMSF hinges on from whom it is acquired and who makes use of it when owned by the fund.

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Education

Accurium expands education beyond SMSFs

Accurium education

Accurium will offer accounting firms education services after requests for information on personal and small business tax matters.

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Accounting

FPA calls for levy freeze, CSLR expansion

FPA levy compensation scheme

The FPA has called for an extension to the ASIC levy freeze for another year, as well as a broader scope for the compensation scheme of last resort.

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Auditing

Audit lessons from Caddick case

smsf auditors caddick

SMSF auditors must heed the lessons that have emerged from the fraudulent activities uncovered in the well-publicised Melissa Caddick case.

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Compliance, Documentation, Regulation

More timely SMSF data likely

SMSF data

SMSF data reporting will need to be more timely and accurate to enable governments to make better superannuation policy in the future.

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LRBA

Renewed call to end LRBAs

AIST LRBAs

An industry fund body has returned to previous claims LRBAs create systemic risks for the superannuation system and should be banned.

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Property

Cap-rate knowledge a property investing must

cap rates property
&

Cap rates can offer property investors an overview of expected returns but should not be used as the only form of analysis.

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ATO, Superannuation

SMSF complaints against ATO low

SMSFs complaints ATO

The number of SMSFs accessing the Tax Ombudsman complaints service regarding actions brought against them by the ATO are considerably low.

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Contributions, Downsizer

Non-super laws impact downsizer

assets test downsizer contributions

The strategic advantage of making downsizer contributions may be diluted by pending amendments to current social services laws.

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