News

Investments

CSLR exclusion ignores recommendations

CSLR MIS exclusion

The exclusion of managed investment schemes (MIS) from a compensation scheme of last resort (CSLR ) ignores Hayne Royal Commission recommendations.

read more
Compliance, Documentation

Statement of intent can cause issues

SMSF statement of intent

Advisers should be wary that simple SMSF asset purchases can lead to compliance breaches if clients communicate their motivation for the transaction.

read more
Documentation

SMSFA issues call to action on director IDs

SMSF Association director ID

The SMSF Association has called on its members to remind their clients to apply for a director ID number and has provided guidance on the steps to make that happen.

read more
SuperStream

Three-day rollovers may hinder family SMSFs

rollover family SMSF

The three-day rollover rule under SuperStream may cause troubles for SMSFs that have admitted their children to boost balances for asset purchases.

read more
Property

ASIC halts two property funds

ASIC property managed funds

Two property sector managed funds have had interim stop orders applied to them by ASIC for deficiencies found in their target market determinations.

read more
Compliance, Documentation

Director ID awareness a worry

director ID SMSF

Director ID awareness among individuals who are directors of companies acting as corporate SMSF trustees is a matter of concern for the SMSF Association.

read more
SuperStream

Clock ticking on SuperStream exemption

SuperStream exemption

The ATO exemption to allow an SMSF to make a rollover outside of SuperStream is likely to be withdrawn soon due to low levels of usage.

read more
Administration

Nil balance allowable, but risky

Nil balance SMSF

An SMSF can have members will nil-balances but avoiding those is a better compliance option.

read more
Accounting, Trusts

Unit trusts need expert accounting

unit trusts accounting

SMSF trustees investing in vehicles such as pre-1999 unit trusts need to ensure they receive specialist accounting services to avoid poor outcomes.

read more
Compliance, Regulation

TBAR change to compress reporting dates

TBAR annually reported

The shift to quarterly transfer balance account reporting will compress a number of annual reporting dates into a single day not related to a fund’s annual return lodgement.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.