SMSF Audit Brisbane Blog

It has come to my attention that a financial adviser was recently permanently disqualified by ASIC for advising six SMSF clients to invest their superannuation in a specific financial product. ASIC found the adviser engaged in misleading or deceptive conduct by investing client funds for purposes other than those […]

ATO Ramps Up Disqualification of Non-Compliant SMSF Trustees

The Australian Taxation Office (ATO) has intensified its focus on ensuring Self-Managed Superannuation Fund (SMSF) trustee compliance with superannuation regulations. This is evident in the significant rise in disqualifications. In the December quarter alone, the ATO disqualified 149 trustees, bringing the […]

The ATO announced today the SMSF event-based reporting requirements that will apply from 1 July 2018.

SMSFs that will have to report TBC events 28 days after end of quarter

This will apply from 1 July 2018 to SMSFs with members with Total Superannuation Balances (TSB) of at least $1 million that […]

The Australian Prudential Regulation Authority (APRA) has released its Quarterly Superannuation Performance publication and the Quarterly MySuper Statistics report for the September quarter.

Key statistics for the superannuation industry as at 30 September 2017 include:

• Total superannuation assets have grown by 8.7% over the 2016/17 financial year to $2.529 trillion.
• Total […]
  

On Tuesday the ATO told industry representatives, including Chartered Accountants ANZ, about arrangements for SMSF TBA event based reporting.

As has been previously reported there will be two different reporting regimes for SMSFs.

One that requires annual reporting that must be completed by the time a fund is required to lodge its […]