smsfs

SMSFs: Here’s an updated toolkit of ATO forms you’ll need

  SMSF trustees may find that occasionally a particular form is needed to be able to complete an administrative task for the ATO. Rather than have you searching the vast labyrinth of the ATO’s website for SMSF forms, we thought it helpful to list some of the required forms here (you could even bookmark this

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How an SMSF can acquire related residential property

  The acquisition of residential property from a related party of an SMSF trustee is ordinarily prohibited, even though this may form part of a sound investment strategy for the fund. There are however exceptional circumstances where such a prohibition does not apply. There is a certain exemption available under s66 of the Superannuation Industry

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A modern solution for the annual SMSF audit

  Rosie Squibb is a Chartered Accountant operating her own practice in the Nambucca Valley on the mid-north coast of NSW and provides tax and accounting services and advice to SMSF trustees. As readers will know, Section 35C of the SIS Act requires all superannuation funds, regardless of size or type, to be audited on

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Bankruptcy, SMSF trusteeship, and trust deed safeguards

  Bankruptcy is a serious issue for anyone, but additional caution needs to be taken by members/trustees of SMSFs. Jeff Song, solicitor at Townsends Business & Corporate Lawyers, says that superannuation law expressly disqualifies any undischarged bankrupt person from acting as a trustee, or director of a corporate trustee, of an SMSF. He also reminds

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NALI concerns allayed for practitioners who DIY super

  The same piece of legislation that introduced a 12-month SG amnesty also clears up one small area of concern for accountants and other practitioners who are also members/trustees of their own SMSF. The legislation, Treasury Laws Amendment (2018 Superannuation Measures No 1) Bill 2018 (read it here) covers the amnesty but also deals with

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