You can hand the work to an accountant, and most trustees sensibly do, but the responsibility for the fund stays with you. A South Australian court made that point again in 2026, and it cost one trustee a conviction.
From 1 July 2027 ASIC starts linking director IDs to the companies they direct. Your SMSF’s corporate trustee gets caught at its next annual review, and ASIC is asking directors to check that the details on both registers still agree.
The government’s post-Shield super package lands with several SMSF-specific measures. Most well-run funds are barely touched, the new costs are modest, and almost none of it is law yet.
From 1 July 2027, your SMSF’s corporate trustee will have to report each director’s Director ID to ASIC. For most funds it’s a light-touch change, provided your details are in order. Here’s the plain-English version.
Establishing a Self-Managed Superannuation Fund (SMSF) is a significant step in taking control of your retirement planning. One of the most critical structural decisions is the appointment of the fund’s trustee. While it may appear cost-effective or administratively convenient to nominate an existing trading company as the corporate trustee, this approach is fraught with legal,…
The Australian Taxation Office (ATO) has issued new guidance on auditor compliance for 2025, emphasising the critical role that SMSF auditors play in maintaining the health and integrity of the sector. With over 32,000 new funds entering the sector in 2024—a 21% increase from 2022-23—the SMSF population has grown to over 625,000, holding more than…
1 June 2020Section 109 SIS Act | Arm’s Length Transaction The requirement for trustees to “deal at arm’s length with the other party” is a key pillar of all SMSF transactions. This rule ensures that SMSFs are not used to artificially enhance concessionally taxed superannuation benefits. However, even minor breaches or misunderstandings of this requirement…
Trusts are a popular legal structure in Australia, used for various purposes such as asset protection, tax planning, and estate management. They are a fundamental element in the planning of business, investment, and family financial affairs. Trusts are a common strategy, and this article aims to aid a better understanding of how a trust works,…
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