Advisers Digest, Author at Advisers Digest

ATO Releases Another Backflip, But This Time In Our Favor

The ATO have just released The Superannuation Industry (Supervision) In-house Asset Determination – Intermediary Limited Recourse Borrowing Arrangement Determination 2020. Under this determination it now appears that the ATO have done another backflip. Previously they have not allowed the bare trustee...

So You Have Lost Your Trust Deed …

How often do you get a new client and you ask for a copy of a particular trust deed? It could be a family trust or an SMSF or some other type of deed. We all think that a photocopy or a scanned copy or an unexecuted copy is OK but we are wrong. The ONLY thing that is accepted up front is an original...

The New SMSF Auditor Independence Standard Has Really Set The Cat Amongst The Pigeons

For those of you that aren’t aware, a new independence standard was released in January this year and it has its own chapter on SMSF Auditors. The standard states that an auditor may not do an audit where their firm or anyone from their firm has prepared the accounts. In terms of “the same firm” this...