Articles
Getting NALI – Part 2
In the last part of our series on NALI, we discuss SMSF Trustee capacity and how to apply the new…
Getting NALI – Part 1
It’s safe to say that the SMSF industry was never going to sanction LCR 2021/2 (“the LCR”) in any form. …
Can an SMSF Own Employee Shares?
Employers are turning to alternative methods of rewarding employees as wage freezes become commonplace during the pandemic. With record low…
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…