SMSF trustees must report the market value of fund assets, including property, as at 30 June each year. The ATO requires valuations to be based on objective, supportable data and included in financial ...

The central bank has announced the official cash rate following its September monetary policy meeting. The Reserve Bank of Australia has announced a hold in the official cash rate, leaving it at 3.6 ...

Almost three-quarters of SMSFs operate without a financial adviser, according to the latest Class Annual Benchmark Report, with an industry veteran arguing this advice gap presents a “strategic ...

The SMSF Association says the ATO’s long-awaited rulings on non-arm’s length income (LCR 2021/2) and contributions (TR 2010/1) have provided long-sought clarity on several critical issues.

A transition to retirement income stream (TRIS) may not have the tax advantages that it used to, but there are still several reasons that they remain attractive, an industry specialist has said.

Legal advisers need to take caution if they are moving assets from parents to children if the former are still alive, a legal ...

The revised LCR 2021/2 will give accountants working in the SMSF sector more ”confidence”, a legal specialist says.

One of Australia’s peak superannuation bodies said the country’s retirement system needs a “rethink” to make it simpler for ...

Special Disability Trusts (SDTs) can be an important estate planning tool for families seeking to provide financial security ...

The long-awaited update to LCR 2021/2 says there has been no change to the “draconian” outcome if an SMSF has a non-arm’s length expenditure due to a specific expense shortfall. Lyn Formica, head of ...

Allowing couples to split their superannuation during their marriage has a number of positive aspects, a leading SMSF educator has said. Tim Miller, head of technical and education for Smarter SMSF, ...