Oct 12, 2020 | Audit Independence
The new rules for SMSF auditor independence are clear about the choice facing SMSF firms undertaking both the audit and accounting functions in-house: they can either continue doing the audit or the accounting work, but not both. Choosing the audit work means SMSF... 
Sep 28, 2020 | Derivatives
As official interest rates hover at an all-time low of 0.25%, the derivatives lure catching SMSFs stems from their inability to generate acceptable returns through defensive assets such as cash and term deposits. While this predicament severely impacts SMSF trustees... 
Aug 24, 2020 | Joint Venture, Property Development
In the last part of our feature series on property development, we discuss related party joint ventures and the difficulty of meeting the sole purpose test The overriding requirement of s62 SIS for SMSF trustees is to ensure that the sole purpose of the fund is to... 
Aug 20, 2020 | Property Development
Part 3 of our series in property development looks at the tax implications of not undertaking transactions on commercial terms. There’s a strange quirk in SIS which sees unsuspecting SMSF trustees step directly onto the property development path leading to NALI. The... 
Jul 27, 2020 | Audit Independence, SMSF Audit Independence
There has been much discussion surrounding the updated Independence Guide, published by the APESB and Professional Accounting Bodies, concerning how a routine or mechanical service impacts SMSF auditor independence. Mirroring the recent changes made to the APES 110... 
