ATO investigating 16.5k SMSFs over valuation compliance
More than 16,500 SMSFs are being scrutinised by the ATO as they allegedly reported certain classes of assets at the same value for at least three income years.
More than 16,500 SMSFs are being scrutinised by the ATO as they allegedly reported certain classes of assets at the same value for at least three income years.
A recent Federal Court ruling has found that the transfer of super from a husband to his wife’s superannuation account is no longer protected as an interest of the bankrupt in a regulated super fund under the Bankruptcy Act 1966.
The Aged Care Taskforce was asked to report on how to fund aged care around the country. In so doing, it took a side in Australia’s national tax ‘tragedy.’
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Australian Tax Office Office data shows a high percentage of SMSFs are lacking portfolio diversification.
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There was a dramatic decrease in the number of SMSF wind-ups from 2018 to 2023, indicating that the SMSF sector is outperforming APRA funds in both returns and customer satisfaction, says a leading educator.
Keeping track of all documents relating to an SMSF trust deed is important if an estate planning issue arises, says an industry expert.
A trustee doesn’t need to show reasons why they made a decision, they will only need to show they followed a proper decision-making process, says a specialist legal adviser.