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....
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...
Trustees of self-managed superannuation funds (SMSFs) are required to prepare financial statements in accordance with the accounting policies as per the requirements of the SIS Act 1993 and SIS Regulations 1994. There is no requirement for a superannuation fund to...
