Have you ever come across a SMSF client where the pension documentation is either lost, missing or insufficient? I’m sure you have, especially when clients switch from a former accountant or administrator to you. It’s probably not because the dog ate them, but rather So, how do you technically and practically deal with this situation? In…
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As the list of legal, pension and compliance documents on the Smarter SMSF platform continues to grow, the navigation to search and create documents for members needed a smarter way to outline the description of available documents, pricing (for PAYG purposes), the documents that are available within our various subscriptions and also through the ongoing…
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Two recent cases involving SMSF auditors, Cam & Bear Pty Ltd v McGoldrick [2018] NSWCA 110 and Ryan Wealth Holdings Pty Ltd v. Baumgartner [2018] NSWSC 1502 have highlighted the obligation of SMSF auditors to verify asset values in the financial statements. Since 1 July 2012, regulation 8.02B of the Superannuation Industry Supervision Regulations 1994(SISR) has required SMSF…
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It was a recommendation from the Financial Systems Inquiry (FSI) to ban the use of limited recourse borrowing arrangements (LRBA) within superannuation that put the operation of section 67A in the firing line as a strategy for SMSFs. With an overheating housing market, problems with property spruikers and ‘one-stop’ shops promoting the use of…
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The benefit of hindsight is a wonderful thing, in particular when it came to the way many practitioners dealt with the payment of income streams for their SMSF clients. Before 1 July 2017, where a member was 60 years or over, it really didn’t matter how the benefit payments were paid as the pension was…
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