Compliance with the law is the price we pay for the tax concessions enjoyed by superannuation. But it’s not enough to comply – you have to be able to prove you have. Elizabeth Wang elaborates.
compliance
SMSF Property development – issues to consider
Can an SMSF be used to develop a property?
ATO monitoring 5 million Australians – practical tips for compliance
Omniwealth has noted the ATO’s announcement that it has placed 5 million Australians on a priority list to monitor their share transactions.
Replacing trustees and mental incapacity
If a trustee or a director of an SMSF loses mental capacity, appropriate actions need to be taken within 6 months in order to meet compliance requirements.
Getting your SMSF compliance right
Self-managed superannuation funds (SMSFs) now account for the management of almost one-third of all superannuation in Australia. Here are a few tips to help you ensure your SMSF is always compliant.
Deregistration of SMSF corporate trustee
Companies in Australia are legal entities – virtual people. They are capable of doing many things in their own right, including acting as the trustee of a self-managed super fund.
Keeping your SMSF compliant when overseas
SMSF trustees need to be careful when going away overseas for extended periods as they face many risks including losing residency.
Signing a deed: Are you wearing too many hats?
In a legal context we are often required to assume multiple responsibilities or assume multiple roles. For example the same person can be the shareholder of a company, a director or that company and even an employee of the company as well.