Articles
ATO Removes Six-Month Guidance for Death Benefits
The ATO has updated its website and removed its six-month guidance for paying out death benefits “as soon as practicable”….
Can a Reg 13.22C Entity Invest in a Partnership?
In the SMSF world, where a reg 13.22c entity can only invest in business real property and cash, can an investment in…
From MFA to the Sock Drawer: Security in SMSFs
Security in SMSFs comes in all shapes and sizes. Tech-savvy SMSF trustees will have multi-factor authentication (“MFA”) enabled for all…
Claiming Deductible Contributions Correctly
While TR 2010/1 covers the mechanics of how to make a personal contribution, difficulty arises when claiming contributions as a…
Navigating SMSF Property Compliance
Property investment within SMSFs remains a popular strategy for building retirement wealth. Navigating SMSF property compliance, however, requires a holistic…
How A Contribution Can Trigger NALI
The ATO has clarified how a contribution can trigger non-arm’s length income (“NALI”) in its latest draft taxation ruling on…
ATO Targets SMSF Auditor Independence
The ATO is targeting SMSF auditors who continue to defy the independence rules. As part of its risk assessment program,…
The True Impact of Incorrect Market Valuations (Part 2)
Compliance Breaches Acquisition of Assets from Related Party Some exceptions allowed under s66 enable an SMSF to acquire assets from…
The True Impact of Incorrect Market Valuations (Part 1)
Is near enough good enough when valuing SMSF assets at market value? Not according to r8.02B SISR, which requires SMSF…
Does A Declaration of Trust Satisfy r4.09A?
While separation of assets remains one of the most reported contraventions by SMSF auditors, the question is: does a declaration…