by David Busoli | 10 Dec 2025 | News
I was asked a simple question recently. An SMSF has 2 members, one has been wholly in pension since July 1 and the other in accumulation. The accumulation member intends to convert their whole balance to a pension from 1 January. Shortly after, the fund will sell... by David Busoli | 28 Nov 2025 | News
Advisers and trustees often feel that the level of audit scrutiny is excessive and it’s true to say that it has become more “annoying” over the last year. There is a reason for this. The ATO have tightened their approach to SMSF compliance and have placed... by David Busoli | 19 Nov 2025 | News
I often field questions concerning the SMSF acquisition of unit trust units from a related party. Whether such acquisitions can occur depends on the scenario. If the unit trust is widely held, typically a managed fund, the acquisition can occur. Note that this is not... by David Busoli | 12 Nov 2025 | News
Recently, ASIC investigated the SMSF establishment compliance for 100 funds sourced from 12 advice licensees that they believed were high risk. They reported that 62 failed to comply with the best interests duty while 27 files raised concerns about client detriment.... by David Busoli | 6 Nov 2025 | News
Refinancing a limited recourse borrowing can result in significant interest savings but beware. For reasons that I have never been able to understand, legislation has been in effect since 1 July 2018 that has resulted in certain limited recourse borrowings being... by David Busoli | 29 Oct 2025 | News
I previously mentioned an intriguing case where the 3 year NCC bring forward had been triggered by an ATO auto truncation of a personal concessional contribution containing 36 cents. In the 2024 year, a member received employer contributions of $6,576.64 and made...