The ATO website has a good summary of the legal protection available to SMSFS - in summary, SMSF trustees need to take preventative steps to avoid future problems such as always requiring 2 signatures on super fund cheques. http://www.ato.gov.au/content/00327490.htm....
On 7th August 2012 the Government's Stronger Super reforms introduced two key changes to SIS Regulation 4.09 i.e. Investment Strategies effective for the 2012/2013 year and onwards. Trustees of SMSFs must now consider: 4.09(2)(e) "whether the trustees of the fund should hold a contract of insurance that...
Measures introduced on 7 August 2012 are part of the suite of measures announced within Stronger Super. These measures mean that you, as trustee of an SMSF, are: ** required to conduct a review of the fund's investment strategy on a regular basis ** required to consider...
SISR 1.06(9A) which states that the provision of a pension will meet the pension standards if the rules of the superfund ENSURE that the pension is paid at least annually and ENSURES that the pension is at least the minimum payment amount for that financial...
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. All auditors must then be...
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