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 Anna Nixon-Smith | Sep 30, 2024 | Blog
Managing a Self-Managed Superannuation Fund (SMSF) comes with the critical responsibility of ensuring that the fund’s investments are managed separately from personal or business investments of its members. This blog explores the importance of correctly...
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...
by Audit Your Superfund | Aug 9, 2024 | Blog
The ATO requires that every SMSF client must prepare and implement a strategy for their investments and review it regularly. Regular review is essential to not only ensure compliance with the law, but also to make sure that the members’ retirement goals are on...
by Audit Your Superfund | Jun 17, 2024 | Blog
With 30 June approaching, now is the time to ensure your clients are getting the best outcome from their super contributions. It’s vital to ensure contributions are received before the end of June. For Individuals For SMSFs, contributions need to hit the fund’s bank...
