Feb 8, 2024
With Australia’s superannuation system based on the basic principle of putting money aside until retirement, it’s common knowledge that there are very few circumstances under which people are able to access funds early. However, for those who do successfully apply for...
Apr 1, 2023
Recent news that Australian cryptocurrency exchange Digital Surge has gone into administration, combined with last month’s collapse of the FTX exchange has left many wondering what is happening in the crypto world, and why, and given how little most people know about...
Jun 16, 2022
In FY21, Australia saw the greatest increase in newly established SMSFs since they first appeared in Australia in 1999. This burst of SMSF popularity has brought about a wave of Australians who are using the flexibility of an SMSF to indulge in purchasing unusual...
Jul 29, 2021
Auditing Standard ASA 510 requires that the auditor shall obtain sufficient and appropriate audit evidence about whether the opening balances in the financial statements of a SMSF contain misstatements that could materially affect the current period’s financial report...
May 27, 2021
Significant changes have been introduced by the (APESB) about the limitation of services an SMSF Auditor can provide. The APES 110 guide states that “An SMSF Auditor cannot conduct an Audit on a set of Special Purpose Financial Statements where the auditor,...
Jan 20, 2020
Trustees of a Self-Managed Superannuation Fund (SMSF) are prohibited from borrowing or maintaining an existing borrowing of money under subsection 67(1) of Superannuation Industry (Supervision) Act 1993 (SISA) except in very limited circumstances as listed under...
