by Audit Your Superfund | Feb 24, 2025 | Blog
Lately, we’ve come across several superannuation funds that have failed to meet their minimum pension requirements. This is more than just a minor oversight – it is a compliance breach of Regulation 1.06(9A) of the Superannuation Industry (Supervision)...
by Audit Your Superfund | Jan 8, 2025 | Blog
Adding a new trustee to your Self-Managed Super Fund (SMSF) is a significant decision and requires a precise set of steps to ensure compliance with superannuation legislation and regulations. Whether you’re bringing in a family member, accommodating a new Director, or...
by Audit Your Superfund | Nov 18, 2024 | Blog
Self-Managed Super Funds (SMSFs) come with a level of flexibility and control that many find appealing, but they also come with stringent rules. One area of common misunderstanding -and potential breaches – is lending from your SMSF. Recently, Audit Your...
by Audit Your Superfund | Aug 20, 2024 | Blog
Please note that recent changes to tax regulations regarding superfund expenses may impact your client’s SMSFs. The new rules took effect on 29 June 2024 but are retroactive to 1 July 2018. The new regulations address ‘non-arm’s length general expenses’ (NALE). These...
by Audit Your Superfund | Aug 13, 2024 | Blog
It is a regulatory requirement for all SMSFs that assets be valued at their market value when preparing the fund’s annual accounts and financial statements. Additionally, SMSF auditors are required to gather sufficient and appropriate evidence to support the value of...
