ATO released updated guidelines for the Excess contributions tax penalties. Guidelines are very helpful for trustees and Super administration firms which provides lots of clarity and puts the onus on having right processes in place once excess contribution event is identified. Practice Statement Law Administration PS LA 2011/24   SUBJECT:    Excess contributions tax […]

Super borrowing is arguably the fastest-growing area of financial advice, and a potentially lucrative one for self-managed superannuation fund (SMSF) advisers. Anecdotally, there is increased client demand in the area, and more and more products and services are finding their way to the market. However, as a field of advice, super borrowing is not without its challenges. […]

Linked to increasing trustee sophistication By Darin Tyson-Chan and Samantha Hodge Wed 25 Jul 2012 Practitioners considered experts in the field are the favoured basis for SMSF advice, a new survey has shown. Individuals seeking advice on their self-managed superannuation funds (SMSF) are preferring to use the services of a professional who is an expert […]

  On 23 June 2012 the Australian Government announced the details of the self managed superannuation funds (SMSF)  auditor registration requirements. From 31 January 2013, auditors of SMSFs will be able to apply for registration with the Australian Securities and Investments Commission (ASIC). All auditors must then be registered with ASIC by 1 July 2013 to continue auditing […]