Articles
The Real Purpose of Business Real Property
The answer to whether a property meets the real purpose of business real property (‘BRP’) is “it depends”. A complete…
ATO Guidance to SMSF Auditor Independence
The ATO has released its long-awaited guidance to SMSF auditor independence, reaffirming the requirements set out in APES 110 Code…
The Related Party Rent COVID Challenge
Related party rent valuations are fast becoming the next big COVID challenge for SMSF trustees. With property values reaching a…
APESB Overhauls SMSF Engagement Letters
In a move that has gone largely unnoticed by the SMSF industry, the Accounting Professional and Ethics Standards Board Limited…
Can An SMSF Claim This as a Deduction?
SMSF auditors have been witness to some outlandish expense claims and get frequently asked: “can an SMSF claim this as…
Why PS LA 2020/3 Covers All SIS Breaches
Is there a glaring omission in the new Practice Statement Law Administration 2020/3 (PSLA)? It would appear at first glance that…
SMSF Auditors Challenged by New Penalty Regime
SMSF auditors have been handed a small, but significant, shift in their responsibility as SMSF gatekeepers by the release of…
The Limitations Of Routine or Mechanical Accountants
The new rules for SMSF auditor independence are clear about the choice facing SMSF firms undertaking both the audit and…
The Derivatives Lure Catching SMSFs
As official interest rates hover at an all-time low of 0.25%, the derivatives lure catching SMSFs stems from their inability…
Does a Joint Venture Pass the Sole Purpose Test?
In the last part of our feature series on property development, we discuss related party joint ventures and the difficulty…