News

Accounting

LightYear Docs expands service offering

LightYear human resources

LightYear Group has expanded with the inclusion of We Love Group, which has already provided a suite of human resources documents for clients.

read more
NALI/NALE

ATO contributions review ominous

contributions NALE

A proposed amendment to the contribution rules with regard to non-arm’s-length expenditure will have a significant negative impact on SMSFs.

read more
ECPI

Rule of thumb useful in choosing ECPI method

ECPI method

SMSF actuaries are unlikely to recommend a preferred method for calculating exempt current pension income so practitioners should use a rule of thumb to make that call.

read more
Tax

TPB opens consultation on tax agent registration

TPB tax agent registration

The Tax Practitioners Board is seeking input on new guidance as to who must be registered with it as a tax agent.

read more
ETFs

ETF provides metaverse gateway

betashares etf metaverse

BetaShares has launched an ETF on the ASX giving investors access to the rapidly developing metaverse economy.

read more
NALI/NALE

NALI compels LRBA conservatism

NALI LRBA

SMSF advisers have been warned not to take an aggressive stance with LRBA interest rates involving related parties to avoid invoking the NALI rules.

read more
ECPI

ECPI calculation switchable year-on-year

ECPI calculation

SMSFs are not locked in to using the same exempt current pension income (ECPI) calculation method each year and can freely switch as it suits them.

read more
Death benefits

Tax dangers for testamentary trusts

death benefits testamentary trust

An SMSF expert has warned there could be death benefit tax repercussions for beneficiaries of a testamentary trust if their status is unclear.

read more
ASIC

Dixon clients urged to lodge AFCA complaint

AFCA Dixon Advisory complaint

ASIC has told former clients of Dixon Advisory to lodge a formal complaint so they may be eligible to receive compensation under any schemes launched in the future.

read more
Documentation

Documentation not one dimensional

SMSF documentation

A multifaceted approach is required with regard to SMSF documentation to ensure fund compliance and to limit professional risk.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.