Limited lifespan left for Chinese wall SMSF audits
Firms have been urged to proactively adopt new SMSF independence measures to avoid expected bottlenecks.
Unused Concessional Contribution Cap Carry Forward Provisions
The first opportunity members of super funds have to make use of this new provision, is the 2019/20 financial year.
COVID-19 – Providing rental relief for the tenant in my SMSF property
The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals.
COVID-19 – The Government’s economic stimulus packages explained
Over the past two weeks the Government has announced two economic stimulus packages to cushion the economic impact of the Coronavirus.
FAQ: Early Access to Superannuation – Australian Government’s Economic Response to the Coronavirus
The Government is allowing individuals affected by the Coronavirus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21.
Business Real Property Fit-outs ~ where to draw the line
A strategy which is widely employed by self managed super funds is for the fund to acquire business real property and to then lease it back to a related party business.
Auditor insights: Market Valuations within SMSFs
To some degree there have always been scenarios where SMSF trustees have been forced to present their annual accounts using a market valuation for all assets.
FAQ: What is Safe Harbour for Self Managed Super Funds and how does it affect me?
The Safe Harbour provisions as announced by the ATO in Practical Guidance Statement 2016/5 (PCG 2016/5) concern related-party limited recourse borrowing arrangements (LRBAs).
The Rise of the Semi-Related Investment Trust
Whilst reviewing several thousand SMSFs ever year it is common for our auditing team to see trends in both investments and superannuation strategies.
