Sep 3, 2024
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...
Aug 27, 2024
As an auditor, I am passionate about the need for simplicity and reducing red tape where possible, and yet when it comes to lease agreements, I believe it should be best practice for auditors to insist upon a written agreement for transactions with related parties....
Aug 27, 2024
It goes without saying that assets held by a Self-Managed Superannuation Fund need to be correctly valued and insured, but too many Trustees are not aware that failing to have an insurance policy over an asset held by the SMSF could cost them dearly in the case of an...
Apr 4, 2014
For an SMSF, the term “related party” is relevant for the purposes of the prohibition on the acquisition of assets by the fund and the in-house asset investments of SMSF. A “related party” of a superannuation fund means any of the following: A member of the fund or a...
