ATO takes aim at ‘you-scratch-my-back’ auditing arrangements - Tax Accountants South Brisbane
It has long been an accepted standard that the auditor of an SMSF needs to be independent of that fund, and be a third party entity to the SMSF.
Read moreBoth tax and SMSF audits on still on ATO’s radar, but some leniency given - Tax Accountants Mackay
While the ATO has lately been focusing on the rollout of stimulus measures, it has also flagged that audit work is not off the table completely.
Federal Budget 2020-21
We all understand that budgets are an exercise in predicting the future. Given what has happened in 2020, gazing into the crystal ball and extracting something reliable is fraught with difficulty.
Read moreSMSF regulations to allow six members under new legislation - Tax Accountants Lidcombe
A bill has been introduced into Parliament that partially implements a measure to allow an increase in the maximum number of allowable members in self-managed superannuation funds and small APRA funds from four to six.
Read moreCOVID-19 and SMSF rental relief - Tax Accountants Glen Waverley
The Federal Government announced a six-month moratorium on evictions of commercial and residential tenants during the COVID-19 health pandemic. This moratorium (and its accompanying code of conduct leasing principles) will inevitably affect SMSFs, which are reasonably heavily invested in real property, according to statistics.
Read moreHas your super fund got you covered for insurance? With COVID-19, maybe not - Tax Accountants Dandenong
From 1 July 2019, the government adopted new rules that aim to prevent the unnecessary erosion of people’s retirement savings through inappropriate insurance arrangements.
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