Top Menu

Author Archive | Joel

What an SMSF audit is not [image]

What an SMSF audit is not

Are your clients getting value from their SMSF audit? There has been a lot of noise in the industry about new technology and low-cost SMSF audits. It’s possible that your clients are questioning the cost of their SMSF audit and asking about cheaper options. To help you explain the difference between low-cost and high-quality audits, […]

Continue Reading 0
Snapshot of the 2018 Federal Budget’s proposed change to a three-year SMSF audit cycle.

Three-year SMSF audit cycle proposal raises questions

Will the changes be in trustees’ best interests? It’s there in black and white in the 2018 Federal Budget: “The Government will change the annual audit requirement to a three-yearly requirement for self-managed superannuation funds with a history of good record keeping and compliance.” However, the predicted benefits to trustees of having a three-year SMSF […]

Continue Reading 0
TSA to be

To be, or not to be. Actually, when to TBAR. That is the question.

Alas, after navigating through the June 2017 reforms; transfer balance caps, CGT relief, new contribution caps and total superannuation balances, it is time to take arms against a new sea of troubles… What is a TBAR and why is it needed? “Though this be madness, yet there is method in it” As we are all […]

Continue Reading 0
Pen and Ink

Putting It In Writing: How to ensure SMSF investment strategy compliance

Here is a summary of the requirements for having, enforcing and reviewing an SMSF investment strategy in plain language. What is the operating standard for an SMSF investment strategy? The investment strategy must: • be in writing, signed by members or trustees and kept in hard copy for  10 years; • be reviewed regularly; • […]

Continue Reading 0
laptop-2561221_1280

TRIS in the post July 2017 world… Traps, Tricks and Tips

The July 2017 reforms brought with it significant changes to treatment of Transition to Retirement Income Streams (TRIS) within the SIS and Income Taxation regulations. Pre July 2017 As a background a TRIS traditionally has allowed a member to access their superannuation once they reached preservation age without having to satisfy a full condition of […]

Continue Reading 0
GoGoGadget TSA

Go Go Gadget Arms: keeping SMSF transactions at arm’s length

Making sure there’s no conflict of interest Transactions between parties related to the SMSF trustees or members can be allowed, but there are very strict rules about when and how they can be carried out. The ATO keeps a sharp eye on transactions between related parties. Transactions must be at fair market value and show […]

Continue Reading 0