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Bruce Frost
Dec 121 min read
Loans to Members - Warning!
In a recent webinar, ATO Acting Deputy Commissioner Paul Delahunty highlighted an increasing trend of SMSF trustees disguising illegal...
Bruce Frost
May 72 min read
Property Valuations - ATO announcement
Valuing fund assets correctly for the SMSF annual return Every year you need to value your SMSFs assets and provide supporting evidence...
Bruce Frost
May 72 min read
Crypto Myth Busting - a Message from the ATO
Losses from crypto investments We continue to see instances where funds are reporting losses with crypto investments. Published 23 April...
gliang26
Aug 1, 20231 min read
Special Offer for SMSF Audits
50% Discount! The first quarter of each financial year has been a quieter period for us. We would like to spread our workflow more evenly...
Bruce Frost
Apr 12, 202313 min read
EFFECTIVE INVESTMENT STRATEGIES
04.05.20 Tricks and Traps Auditing SMSF Investment Strategies 1.0 Audit Procedures for Investment Strategies 1.1 The audit procedures...
Bruce Frost
Apr 12, 20235 min read
UNLISTED EQUITY INVESTMENTS
1.0 Audit Verification of Unlisted Equity Investments Due to the unusual nature and specific risks of unlisted equity investments these...
Bruce Frost
Aug 24, 20222 min read
WHAT TO EXPECT IN ATO AUDIT OF SMSF
The ATO has issued this advice "We undertake audits and reviews of approved self-managed super fund (SMSF) auditors where we have...
Bruce Frost
Aug 24, 20223 min read
Bench-marking your superannuation fund
APRA’s latest heatmap compares the returns, fees and sustainability of default MySuper products and ‘choice’ investment options you...
Bruce Frost
Aug 19, 202210 min read
TRICKS AND TRAPS OF HOLIDAY COTTAGES IN SMSF
1.0 Audit Procedures for Holiday cottages in SMSF 1.1 The audit procedures required to be undertaken in relation to TEAS are as...
Bruce Frost
Aug 19, 20228 min read
CRYPTOCURRENCY AUDIT (BITCOIN ETC)
1.0 Audit Verification of Cryptocurrency Due to the unusual nature and specific risks of Cryptocurrency investments these additional...
Bruce Frost
Jun 16, 20221 min read
ATO - UPDATE TO PCG 2020/5 NON_ARM'S LENGTH EXPENDITURE
The ATO has updated Practical Compliance Guideline (PCG) 2020/5 Applying the non-arm's length income (NALI) provisions to 'non arm's...
Bruce Frost
Apr 27, 20222 min read
ATO UPS AUDITOR INDEPENDENCE FOCUS
The ATO has identified adherence with the amended auditor independence standards as stipulated in APES 110 as an area of high risk with...
Bruce Frost
Apr 27, 20224 min read
TRICKS AND TRAPS of NON-ARMS LENGTH INCOME/EXPENSES IN SMSF (NALI/E)
1.0 Audit Procedures for NALI/E in SMSF 1.1 The audit procedures required to be undertaken in relation to NALI/E are as follows: a. ...
Bruce Frost
Apr 27, 20225 min read
TRICKS AND TRAPS AUDITING REAL ESTATE IN SMSF
1.0 Audit Procedures for Real Estate in SMSF 1.1 Review the Investment Strategy Document: Ensure the investment strategy permits the...
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