News

Auditing, Regulation

Audit paper, consultation period welcomed

The SMSF Association is pleased with Treasury’s decision to address initial industry concerns and provide an eight-week feedback period for its discussion paper on the proposed three-yearly audit cycle for some SMSFs as the next steps for the policy are crucial.

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Accounting, Practice Management

SMSF tech costs to plummet 70 pct: Mclowd

SMSF practitioners and trustees will experience a 70 per cent reduction in their accounting software technology costs over the next three years, according to accounting and SMSF software provider Mclowd.

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Residential Property, Retirement, Strategy

Baby boomers must be on top of property research

A new report has outlined issues baby boomers heading into retirement need to be aware of when looking for solid investment properties.

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Auditing, Compliance, Regulation

Triennial audit feedback period begins

Treasury has released a discussion paper to commence industry consultation on its three-year audit-cycle policy for well-run SMSFs.

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Commercial Property, Residential Property

Property investment options for SMSFs

Direct property investment remains a popular investment option for SMSF investors, but it requires careful consideration before taking action. And could other property asset classes help SMSF investors achieve the same outcome, but perhaps in a better way?

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Administration, Auditing

Treasury releases audit discussion paper

Treasury has this morning revealed further details on its three-year audit cycle measure for well-run SMSFs via a discussion paper released for industry consultation.

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Investments, Strategy

Trustees acting on imputation ban

Some SMSFs have assumed the Labor Party’s policy on banning excess imputation credit funds is already legislation, highlighting the need for advisers to ensure their clients understand the latest announcements affecting super.

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Estate Planning, Superannuation

Downsizer, aged-care strategy go hand-in-hand

SMSF advisers advising clients on downsizer contributions for estate planning purposes should consider the client’s full circumstances and the interaction with aged care, according to Aged Care Steps.

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Retirement, Superannuation

Super catch-up measure starts

The federal government’s catch-up carry-forward super measure began this week, giving those with broken work patterns, particularly women, a better chance to save for retirement.

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Compliance, Superannuation

SMSFs get inactive low-balance account concession

The bill enacting the 2018 federal budget proposal to have all inactive low-balance (under $6000) superannuation accounts transferred to the ATO has taken into account the concerns of SMSFs running deliberate multiple-fund strategies.

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