SMSF auditors AS per ATO  : SMSF auditors The super laws require that SMSFs have their accounts, statements and compliance audited each year. The fund’s trustees are responsible for appointing you and must provide you with all the documents you need to do the audit. As an SMSF auditor, it is your role to carry […]

ATO SMSF news Limited recourse borrowing arrangements – questions and answers This document provides general information about our current views on issues that trustees of self-managed super funds (SMSFs) may need to take into account when considering entering into a limited recourse borrowing arrangement (LRBA). It also provides guidance regarding the application of the Superannuation Industry […]

Practical Compliance Guidelines LRBA 2016/15 Income tax – arm’s length terms for Limited Recourse Borrowing Arrangements established by self managed superannuation funds What this Guideline is about 1. When a Self-Managed Superannuation Fund (SMSF) acquires an asset under a Limited Recourse Borrowing Arrangement (LRBA), the non-arm’s length income (NALI) provisions in section 295-550 of the Income […]

Self-managed superannuation fund independent auditor’s report 30 June 2017 You should use this report if you: An approved SMSF auditor is an auditor who is registered with the Australian Securities & Investments Commission (ASIC). ASIC issues each approved SMSF auditor with an SMSF auditor number (SAN). You must include your SAN when completing this report. […]

Self-managed superannuation fund annual return and instructions 2017 You can download the Self-managed superannuation fund annual return 2017(NAT 71226). This instruction guide is not available in print or as a downloadable PDF document. These instructions will help you complete the Self-managed superannuation fund annual return 2017. However, they are not a guide to income tax or superannuation law. Seek […]

Appoint an SMSF auditor You must appoint an approved SMSF auditor to audit your fund each year, not later than 45 days before you need to lodge your SMSF annual return. The auditor examines your fund’s financial statements and assesses your fund’s compliance with super law. Watch: https://publish.viostream.com/embed/player?video=bd1bdiub8cjgsj&width=640&height=360 Your SMSF auditor must be: An audit is […]

SPR 2020/D1 determination under paragraph 71(1) (f) for the consultation. ATO has issued SPR 2020/D1 determination under paragraph 71(1) (f) for the consultation. I have been in discussions with the ATO for some time now and very glad to see this determination now open for comments This determination is the Superannuation Industry (Supervision) In-house Asset […]

Report SMSF contraventions even if an audit engagement is terminated If an approved self-managed super fund (SMSF) auditor forms the view that a contravention of the Superannuation Industry (Supervision) Act 1993 (SISA) and/or the accompanying regulations has occurred, may be occurring or may occur, during the course of conducting an audit, section 129 of the […]