News

Compliance, Financial Planning

Industry united against compensation scheme

CSLR financial advice

A compensation scheme of last resort (CSLR) will result in a less affordable advice industry, according to a raft of industry associations that stand opposed to the government’s draft model.

read more
Retirement, Superannuation

Covenant common sense encouraged

retirement covenant

The SMSF Association has called on the government to use a sensible approach to the implementation of the proposed retirement income covenant.

read more
Compliance, Documentation

Lodgement dates can shift reporting time frame

tax lodgement dates SMSF

The tax lodgement dates for unlisted shares or units in a private unit trust can throw out the reporting dates for an SMSF if left unchecked.

read more
Estate Planning

SuperStream changes death benefit rollovers

Death benefit rollovers SuperStream

Death benefit rollovers will be treated differently under SuperStream from 1 October, depending on who the beneficiary is in the eyes of the ATO.

read more
ASIC, Property

ASIC moves to shut down property spruikers

ASIC SMSF property scheme

A Perth-based property investment group will face a second round of ASIC-initiated court action as the regulator seeks to end its activities.

read more
Documentation, Regulation

Digital signature relief extended again

electronic documents relief

The government has announced an extension of the temporary COVID-19 relief measure allowing companies to use electronic communication for documents.

read more
Auditing, Superannuation

Partial audit outsourcing an option

audit accounting

Accounting firms are beginning to consider partial outsourcing as a compliance solution for the amended auditor independence standards.

read more
Accounting

Flawed LRBAs will create unfixable NALE taint

LRBA NALE

LRBAs started in non-arm’s-length circumstances will trigger NALE unless they are ended and restarted on new terms that comply with new ATO requirements.

read more
Superannuation

Review deeds, but change only when needed

SMSF deeds review

SMSF practitioners should be reviewing the deeds of their trustee clients while reminding them ongoing regulatory change does not always require an amendment to the document.

read more
NALI/NALE

Discount availability key to NALE

NALE discount

The NALE rules will only apply to SMSF administration service discounts that have been selectively applied to some staff within an organisation.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.