News

Industry raises concerns with Jones

July 13, 2023

Financial practitioners from six industry bodies have put forward their view on advice changes to the government in a series of forums with Financial Services Minister Stephen Jones.

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NALI/NALE

NALE bill can’t fix broken model

July 12, 2023

Jason Spits

The draft bill to alter the NALE provisions is building on a flawed model, creating more problems, with a collective of industry bodies unwilling to support it.

Ruling clarifies SMSF director-executor pay

July 12, 2023

Todd Wills

A recent court ruling has clarified whether an SMSF is legally required to compensate a director when they are appointed as both a director and executor of an SMSF.

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SMSF, Superannuation

Trustee establishment age rises

July 12, 2023

Darin Tyson-Chan

The average age of Australians setting up an SMSF has increased along with the average superannuation balance of these new funds.

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NALI/NALE

NALE fix involves fair value proof

July 11, 2023

Jason Spits

The government’s draft bill to implement a NALE tax regime will force SMSFs to prove their expenses are at market value.

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BDBNs, Compliance, Documentation, SMSF

Take proactive steps for lost documents

July 11, 2023

Todd Wills

SMSF trustees and advisers should consider establishing a new SMSF in the event key operating documents can no longer be found.

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ATO, Compliance, Superannuation

ATO issues scam alert

July 11, 2023

Jason Spits

The ATO has continued to warn SMSF members of schemes and promoters that target their funds to engage in activities that breach superannuation laws.

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Auditing, Compliance, SMSF

Disclaimers can reduce audit risk

July 10, 2023

Darin Tyson-Chan

SMSF auditors need to provide their clients with a disclaimer stipulating the aspects of the fund that have not been examined to lessen litigation risk.