Our work administering 4,000 funds and helping other practitioners with their SMSF queries has given us a useful insight into the key points an investment strategy needs to include to pass audit each and every year.

All SMSF trustees are required to “formulate, regularly review & give effect to” an investment strategy for their fund. The first person they often turn to for help is the fund’s accountant, but what can accountants do without a licence?

The ATO recently identified approximately 25,000 taxpayers who claimed a tax deduction in their 2018/19 income tax return for a personal super contribution but have missed a vital step in the paperwork side of things.

Since my article last month, the Australian 'mood' has definitely moved on from relief that Covid-19 cases seem to be under control to a new phase which is focussing on when lockdown restrictions will ease.

So your client has decided to wind up their SMSF? It’s vital for all involved to be aware of the potential traps in the windup process to avoid unnecessary costs and complexity.

Unfortunately the ATO has not finalised a controversial ruling that sought to treat all of a fund's investment income as "non-arm's length" income.

There are some situations where an SMSF is no longer suitable or appropriate for its members. However, it is not always possible to immediately wind up the fund.

There are many reasons why individuals choose an SMSF as their primary retirement savings vehicle. However for some, there will come a time when the SMSF is no longer appropriate for them.

My client is about to rollover an “untaxed element” into his SMSF. Where did it come from and what do I do with it?

Ideally retirement is planned and eagerly anticipated. But these are times of unexpected job losses – how does superannuation access work for those over preservation age now?

Obviously there have been temporary changes to superannuation conditions of release as a result of the pandemic. There have been no changes to the definition of “retirement” but how does this work in a Covid-19 environment?

Another month of the weird new world of Covid-19 and there are some things about our new lives that are starting to feel strangely normal.