News

ATO, Auditing, Compliance, Documentation

ATO issues SAN misuse warning

The ATO has warned tax agents and trustees against misusing SMSF auditor numbers as the lodgement date for fund annual returns approaches.

The ATO has warned tax agents and trustees against misusing SMSF auditor numbers as the lodgement date for fund annual returns approaches.

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AUSTRAC, Compliance

AUSTRAC releases risk updates

Three new financial risk updates have been released by AUSTRAC taking into account the crime risk emerging technologies such as AI present.

Three new financial risk updates have been released by AUSTRAC taking into account the crime risk emerging technologies such as AI present.

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Auditing, Valuations

Valuing complex SMSF assets

There is a particular methodology to which advisers and trustees must adhere when looking to value SMSF assets that are complex in nature.

There is a particular methodology to which advisers and trustees must adhere when looking to value SMSF assets that are complex in nature.

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CSLR, financial advice, SMSF

SMSF levy to fund CSLR thorny

The FAAA is unsure as to whether SMSFs should help fund the Compensation Scheme of Last Resort special levy as proposed by the government.

The FAAA is unsure as to whether SMSFs should help fund the Compensation Scheme of Last Resort special levy as proposed by the government.

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Division 296, SMSF

Two distinct parts to cost base election

Electing to use the Division 296 cost base adjustment and the valuations to support it should be viewed as two issues with separate timing.

Electing to use the Division 296 cost base adjustment and the valuations to support it should be viewed as two issues with separate timing.

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Investments, Regulation, Superannuation

Super performance test to be reviewed

A government review of the super performance test is aiming to broaden the scope of products examined, but also what funds can invest in.

A government review of the super performance test is aiming to broaden the scope of products examined, but also what funds can invest in.

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ASIC, Technology

ASIC calls for cyber resilience focus

The regulator is calling on licensees and company directors to have appropriate cybersecurity processes in place given the increased AI threat.

The regulator is calling on licensees and company directors to have appropriate cybersecurity processes in place given the increased AI threat.

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ATO, Payday Super, Superannuation

Active Payday Super compliance required

SMSFs must take proactive steps to be ready for Payday Super or risk employer contributions failing to reach their fund.

SMSFs must take proactive steps to be ready for Payday Super or risk employer contributions failing to reach their fund.

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Compliance, LRBA

LRBA property exit must be exact

Moving a property from an LRBA into the hands of an SMSF or its members requires planning to avoid taxes and delays.

Moving a property from an LRBA into the hands of an SMSF or its members requires planning to avoid taxes and delays.

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CSLR, financial advice, Financial Planning

No positives for advisers from CSLR levy

FAAA members have expressed only negative sentiments when surveyed about the impact of the CSLR levy on the financial advice sector.

FAAA members have expressed only negative sentiments when surveyed about the impact of the CSLR levy on the financial advice sector.

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