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Showing 11 - 20 of 130 results for %22SMSF auditor%22

SMSF auditors in hot water

CHLOE WALKER  |  WEDNESDAY, 30 NOV 2022
... disqualified three SMSF auditors from being registered, imposed additional conditions on the registration of one SMSF auditor, and cancelled the registration of two SMSF auditors. Five of these SMSF auditors were referred to ASIC by the ATO. Of the five ...

TPB, bans dishonest tax agents

CASSANDRA BALDINI  |  TUESDAY, 18 OCT 2022
... (TPB) terminated the registration of two tax agents after finding they prepared and lodged self-managed superannuation fund (SMSF) annual returns with incorrect details. Following an Australian Taxation Office (ATO) referral the TPB found the agents ...

Draft SMSF auditor registration regulations to update fees, language

ANDREW MCKEAN  |  MONDAY, 17 OCT 2022
... those fees are payable for, in respect of approved SMSF auditors including, applying for registration as an approved SMSF auditor, undertaking a competency examination in accordance, and the provision of statements and various notices to ASIC. "The proposed ...

SMSFA calls for budget amendments

CASSANDRA BALDINI  |  WEDNESDAY, 7 SEP 2022
The SMSF Association is urging Canberra to address legacy pensions and extend the temporary absence rule for non-residents in its first budget. In the Associations submissions, chief executive John Maroney highlighted several key measures that remain ...

Plans to remedy NALI, NALE issues welcomed

JAMIE WILLIAMSON  |  WEDNESDAY, 23 MAR 2022
... basis. Non-arm's length income (NALI) would also likely come into play in this situation. As such, any income derived by an SMSF that is NALI or resulting from NALE is taxed at the top marginal rate of 45%. Welcoming the news, the SMSF Association said ...

ASIC stands against suspicious SMSF auditing

CHLOE WALKER  |  MONDAY, 7 MAR 2022
... superannuation fund (SMSFs) audits, ASIC has accepted voluntary cancellations or imposed conditions on the registration of several SMSF auditors. These auditors were involved in reciprocal audit arrangements, which create self-interest and familiarity ...

SMSF sector grows 11%: ATO stats

JAMIE WILLIAMSON  |  TUESDAY, 22 FEB 2022
The latest annual figures from the ATO show the SMSF sector bounced back from the horrors of COVID-19 to add $80 billion in the year to 30 June 2021. Releasing data today, the ATO said total assets in SMSFs hit $822 billion at 30 June 2021. This is ...

COVID-19 relief for SMSFs may require specialist input

CHLOE WALKER  |  MONDAY, 22 NOV 2021
Extended government relief measures highlight the need for SMSF specialist advice, says SMSF Association chief executive. SMSF Association chief executive John Maroney has commented on the need for SMSF specialist advice in the wake of extended COVID-19 ...

ASIC provides licensing update

ELIZABETH MCARTHUR  |  THURSDAY, 16 SEP 2021
... was refused, 563 licences were cancelled and 23 suspended. ASIC also approved the registration of 96 company auditors, 59 SMSF auditors and registered 31 liquidators approved by the liquidator registration committee. In the same period, 29 professional ...

Auditor referral threshold test troubling: SMSFA

ANNABELLE DICKSON  |  MONDAY, 13 SEP 2021
The SMSF Association is concerned that the introduction of a 20% threshold for auditor referral fees does not address at what point in time the threshold test must be considered or applied. The Accounting Professional & Ethical Standards Board introduced ...