News

ATO, Documentation

Nil balance may indicate non-compliance

SMSF nil balance

The ATO has advised that SMSFs with a nil account balance on 30 June should reflect on the fund’s management as this may be a sign of non-compliance.

read more
Documentation

Splitting documentation order key

SMSF splitting

Super splitting notices must be given in a specific order for trustees to avoid compliance breaches, despite not all regulations being applicable to SMSFs.

read more
Accounting, Investments

Give accountants freedom to talk investments

Accountants investment advice

Qualified accountants should be free to talk more generally about the investment needs of SMSFs.

read more
ATO

Reminder COVID relief has expired

ATO COVID-19 relief

The ATO has issued a reminder to SMSF trustees and auditors for both groups to recognise the COVID-19 compliance relief measures no longer apply.

read more
Investments

Valuations a clue for apt assets

SMSF asset valuation

The degree of difficulty associated with obtaining a proper valuation for an investment can indicate whether the asset is suitable for an SMSF.

read more
ATO, Contributions

Unused caps splittable, but restricted

concessional contributions split

SMSF members can split a carry-forward concessional contribution, but the ATO will determine the year with which the unused cap is associated.

read more
ATO

ATO clarifies trustee disqualifications

ATO SMSF trustee disqualification

The circumstances influencing when the ATO looks to disqualify an SMSF trustee have been detailed in a new piece of guidance.

read more
Contributions

Win for small business owners

superannuation contribution

Changes to the superannuation contribution rules introduced on 1 July will advantage individuals looking to sell their small businesses.

read more
Pensions

Pension splitting a no go within SMSFs

pension payment splitting

Trustees looking to split a pension payment will find superannuation laws have blocked that path, but commutation planning could resolve the issue.

read more
Contributions

Changes boost recontribution strategy appeal

recontribution strategy SMSF

The usefulness of a withdrawal and recontribution strategy has increased due to the combination of a number of superannuation changes.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.