The ATO has released a draft legislative instrument (SPR 2020/D2). It makes it explicit that some important situations created when SMSF landlords provide rent relief to tenants (as a result of Covid-19) will not result in an in-house asset.

It seems crazy to think we are already into the second month of the new financial year. But it appears that’s been long enough for the SMSF Association to host the best online event I’ve ever been to in 20+ years in financial services.

Understanding the laws around self-managed superannuation funds is complicated, especially when divorce is involved, so get good advice from a professional.

There are many issues to think about when it comes to the death of a SMSF member. But what are the special impacts that apply when the fund has individual trustees?

If you’ve ever doubted the merits of having an SMSF or the value of good advice, then look no further than the recent Administrative Appeals Tribunal case between a superannuation fund member (David Reiter) and the Department of Social Services.

The Government has extended the ability to withdraw $10,000 from super for those financially affected by the COVID-19 situation to 31 December 2020, and the ATO release integrity and compliance warnings.

Just when I thought I would be writing my monthly article for our newsletter with no reference to Coronavirus, it flares up in Victoria in a major way!

My clients applied to register their new SMSF and get an ABN a month ago but it still hasn’t come through. What is the hold up?

All approved SMSF auditors are required to comply with the independence requirements set out in the APES 110 Code of Ethics. Recent changes to the Code and the associated Independence Guide will have major repercussions for the SMSF industry.

A big drawcard for SMSFs is the control and flexibility that comes with them. On the flipside, giving members and trustees full access to their super fund assets and bank account comes with some potential dangers.

The Government has committed to deliver on their proposal to increase flexibility for those in their mid-60s to make contributions as well as other superannuation measures.

My clients want to ensure their superannuation contributions are tax deductible this year. When do they need to be paid by to be deductible in the 2019/20 year?