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,...
Aug 7, 2020
Recent economic uncertainty raises questions around what responsibilities trustees and auditors have in relation to an SMSF’s ability to continue as a going concern. “Economic uncertainty” is a phrase we hear all too much lately due to most organisations and...
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...
Nov 29, 2019
The downsizer contribution allows individuals, who may be prevented from making superannuation contributions due to their age, work status, contributions caps or their total superannuation balance, the ability to make superannuation contributions using some of the...
Aug 26, 2019
The Australian Tax Office (ATO) has made a number of key changes to the Self-managed superannuation fund 2019 annual return to facilitate the superannuation reforms that came into effect on 1 July 2018. The four changes across 3 sections of the return are highlighted...
