Under s67A of the SIS Act, an LRBA can only be refinanced to replace the existing borrowing against the same single acquirable asset, limited to the outstanding principal, accrued interest, and reasonable refinance costs. It cannot be increased to release equity, fund repair, or add any amount unrelated to that same asset acquisition/maintenance/repair. Doing so […]

Self‑managed superannuation funds (SMSFs) remain a popular structure for Australians seeking more control over their retirement savings. However, SMSF residency compliance has become one of the most significant risk areas affecting funds between 2024 and 2026, particularly as more trustees work overseas, relocate temporarily, or split their time between countries. Failure to meet the residency […]

SuperStream has been mandatory for all rollovers to and from SMSFs since 1 October 2021, and the obligations continue into 2026.SMSF auditors have specific reporting duties when a fund fails to comply with SuperStream standards. 1. When an SMSF Auditor Must Report a SuperStream Contravention According to 2026 SuperStream guidance, SMSF auditors must report failures […]

Short answer: No — the ATO Trustee Declaration (NAT 71089) cannot be electronically signed. A wet‑ink signature is required, including in NSW. Why? Although most SMSF documents can be digitally signed under the Electronic Transactions Act 1999, trustee declarations are specifically excluded because Superannuation Industry (Supervision) (SIS) legislation is exempt from the ETA. A specialist […]

Division 296 – A Simple Guide for Accountants & SMSF Administrators The Federal Government has introduced Division 296, a new tax on superannuation earnings for individuals with superannuation balances above $3 million. The legislation was passed by Parliament on 10 March 2026 and came into effect on 1 July 2026. This is one of the […]

🔥 1. Increasing Regulatory Scrutiny Is Reshaping the Profession Regulators (ATO and ASIC) have sharply escalated their compliance actions: This heavier regulatory action creates a challenging environment for sole auditors, who often lack the internal review processes of multi-partner firms. 🔍 2. Higher Expectations for Audit Evidence and Technical Depth Recent ATO and SMSFA guidance […]

The following provides a comprehensive, current, and evidence‑based analysis of the critical SMSF compliance considerations that arise when leasing commercial property to a related party, including the requirements for maintaining arm’s‑length terms, managing in‑house asset exposure, identifying and mitigating NALI/NALE risks, and understanding the regulatory and tax consequences of non‑compliance. ✅ 1. In‑House Asset Risk […]

A partial commutation occurs when a member converts part of an existing pension (income stream) into a lump sum withdrawal. This reduces the pension account balance and the member’s Transfer Balance Account (TBA). ATO rules clearly outline the circumstances in which partial commutations are allowed, how they must be handled, and what they do not […]