The ATO is starting to crack the whip.
The leniency shown towards businesses in 2020 is about to end. There is $65 Billion in outstanding taxes and they want their money. And so does the government.
Why outsourcing your SMSF audits is good for your bottom line
In May 2020, the updated code of ethics provided clear guidelines about auditor independence.
You have till June 2021 to get your house in order. After that you are fair game for the ATO and your professional body.
The Independence noose is getting tighter.
The ATO, ASIC and professional bodies have been banging on about auditor independence for years. Their independence is crucial for the integrity and success of business environments. Whether they are registered audits, trust accounts, or SMSFs
Family Law Case Study
As part of a divorce settlement, the family law gives court orders about the division of assets between the parties The laws guiding the divisions of super assets are complex, especially when it comes to SMSFs.
Video: Rent relief for SMSF tenants
The COVID-19 induced business shutdown has caused financial stress for many small businesses, bringing about the need for rent relief.
ATO Hotlist 2020
The ATO are on a permanent war footing about the integrity of SMSFs, after all there’s a lot of people’s future happiness tied up in them.
UPDATE – ATO guidance on rent relief for SMSF landlords.
Are you ok? Do you need help? These two questions have never been so important.
Urgent SMSF Advice – Can I reduce the rent from my related party tenant?
My thoughts and prayers are going out today to those affected by this crisis.