Mar 30, 2020 | SMSF Compliance
The ATO has published answers to a number of frequently asked questions relating to the impact of COVID-19 on SMSFs – ATO COVID-19 FAQs Rent Relief for Related Parties One of the most common questions is whether a related party tenant can receive a rent... 
Jan 19, 2020 | SMSF Audit
Before it became an ATO reporting requirement in the 2019 annual return, Part A qualifications were primarily ignored within the SMSF industry. Discussions centred mostly around compliance contraventions and whether an Auditor Contravention Report (ACR) was to be... 
Dec 9, 2019 | SMSF Penalties
We’ve entered a new era of SMSF administrative penalties where trustees are facing the consequences of any illegal activity in their funds. The anecdotal evidence suggests that SMSF penalties are being applied hard and fast by the ATO, and not just for a single... 
Nov 11, 2019 | SMSF Compliance
Making sure an SMSF passes the sole purpose test (“SPT”) is one of the cornerstones of operating a compliant SMSF. One of the most important things to understand is that it’s not the type of investment dictating whether the SPT is met, but rather the purpose for which...
