In SMSF audit, one of the most important questions is also one of the easiest to underestimate: is the person controlling the fund legally allowed to do so? When auditors check whether a trustee is disqualified, the ATO’s Disqualified Trustees Register is often the...
As the widespread adoption of artificial intelligence continues within the professional services sector, a serious risk is emerging for self-managed super fund Auditors due to a lack of clearly defined boundaries and guidelines on how and when it is appropriate for...
With the Reserve Bank of Australia opting to raise interest rates this month it’s a timely reminder of the economic decisions and developments that are completely outside the control of ordinary Australians, yet have a significant impact on their lives. The same can...
Australia’s superannuation system may have breathed a sigh of relief after the Federal Government opted to walk back elements of its Division 296 superannuation policy, but the revised version remains deeply flawed and still risks undermining the retirement system....
As the end of financial year approaches, it’s timely to remind self-managed superannuation Trustees of their compliance obligations, and in particular the need to ensure assets are valued correctly. While this is regular practice, given that the Australian Tax Office...
Despite the Federal Government claiming changes to superannuation will make the system ‘more sustainable and fairer’, closer examination of the draft legislation reveals the measures are actually inequitable and unsustainable in the long term. At a simple level, plans...
