ATO Commissioner Michael D’Ascenzo launched the ATO’s new SMSF compliance program on 30 June 2011. While ATO continue to work with SMSFs to fix genuine problems, ATO also take firm action, including making funds non-complying, if they commit serious breaches of the rules. This year, ATO SMSF compliance activity will focus on:  newly registered funds, […]

The Self-managed superannuation fund independent auditor’s report (NAT 11466, RTF 345KB) are instructions and a form that you should use if you: –          are an approved auditor, and –          have been appointed by a trustee of self managed superannuation (SMSF) to give a report on the operation of that fund for each income year. This […]

The trustees of an SMSF are required to prepare and implement an investment strategy for the superannuation fund. The strategy must reflect the purpose and circumstances of the fund and take into account: How to maximise member returns while having regard to the risk Appropriate diversification in a long term investment strategy; and The ability […]

SMSF—investment in collectables and personal use assets. The regulations may prescribe rules in relation to the trustees of regulated superannuation funds that are self managed superannuation funds making, holding and realising investments involving: (a) collectables (within the meaning of the Income Tax Assessment Act 1997); or (b) personal use assets (within the meaning of that […]