Common sense the best defence against fraudsters: forensic auditor
Basic common sense is one of the best tools to detect fraudulent schemes, a forensic auditor has said.
Basic common sense is one of the best tools to detect fraudulent schemes, a forensic auditor has said.
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SMSF trustees using limited recourse borrowing arrangements (LRBA) should avoid trying to cut corners in setting up a trust for the loan, with an SMSF structure expert stating they should set up a dedicated bare trust for each gearing measure.
The increase in the transfer balance cap from $1.9 million to $2 million is not as simple as it seems, particularly for members already in pension phase, a leading adviser has said.
A retirement savings specialist has confirmed the payment of an SMSF death benefit is not dependent upon any of the procedures associated with the deceased member’s estate.
The Tax Office has reminded trustees that SMSFs need to start preparing for their SMSF annual return lodgment, which is due by 31 October 2025.
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