Articles
![working out whether general expense NALI is material or not](https://asfaudits.com.au/wp-content/uploads/2023/07/AdobeStock_107247391-1.jpeg)
Is General Expense NALI Material?
The SMSF industry breathed a small sigh of relief after the release of the latest general expense NALI rules. While…
![SMSF trustee disqualifications](https://asfaudits.com.au/wp-content/uploads/2023/05/AdobeStock_106747654-e1684134735998.jpeg)
Navigating Disqualified SMSF Trustees
Navigating disqualified SMSF trustees can be challenging because there are many moving parts to deal with. As the number of…
![ATO issues rectification direction](https://asfaudits.com.au/wp-content/uploads/2023/04/Dealer.jpg)
Dealing with ATO Rectification Directions
Receiving an ATO rectification direction for a compliance breach may seem like winning at the casino, especially when the alternative…
![Is an SMSF entitled to an overpaid present entitlement or is it a borrowing?](https://asfaudits.com.au/wp-content/uploads/2023/01/AdobeStock_338370558-e1673845299650.jpeg)
Is an Overpaid Present Entitlement a Borrowing?
When an SMSF receives an overpaid present entitlement, the first question is whether it represents a borrowing. There is a…
![SMSF market valuations guidance from the ATO](https://asfaudits.com.au/wp-content/uploads/2022/12/AdobeStock_456904463.jpeg)
ATO Softens Market Valuation Guidelines
The ATO has released softened market valuation guidelines providing a new approach for SMSF trustees and auditors. There is a…
![learning the business use test](https://asfaudits.com.au/wp-content/uploads/2022/11/AdobeStock_75079220.jpeg)
How to Pass the Business Use Test
There is no study guide available on how to pass the business use test. The facts are that business real…
![compliance with superstream](https://asfaudits.com.au/wp-content/uploads/2022/10/AdobeStock_57948231.jpeg)
The Compliance Impact of SuperStream
While the teething problems continue, the compliance impact of SuperStream depends on whether the SMSF is the transferring or receiving…
![acquiring assets from a related party](https://asfaudits.com.au/wp-content/uploads/2022/09/AdobeStock_192683090.jpeg)
How To Legally Acquire Assets from a Related Party
Legally acquiring assets from a related party seems almost too good to be true, especially when s66 SIS forbids it….
![What is an NFT in an SMSF?](https://asfaudits.com.au/wp-content/uploads/2022/08/AdobeStock_480327338.jpeg)
Is an NFT a Collectable and Personal Use Asset?
The ATO has remained silent on whether a non-fungible token (NFT) is a collectable and personal use asset (“collectable”) or…
![Comparable sales is required with SMSF kerbside valuations](https://asfaudits.com.au/wp-content/uploads/2022/06/AdobeStock_119420847.jpeg)
What If There’s No Comparable Sales?
The ATO requirement to include comparable sales in a kerbside valuation for property held in an SMSF result in delays….