SMSF Australia Blog Articles
What Happens if my SMSF Audit Report is Qualified?
A Part A qualification is generally considered to be a minor issue so there is no need to get too upset if this happens however a Part B qualification is generally considered more serious and if it is very serious must also be reported directly to the ATO
Can a SMSF member have a nil balance?
Some SMSF deeds allow nil member balances, but the ATO may see them as a sign of non-compliance. Common causes and how to keep your fund compliant.
Transfer Balance Cap – what is it and why is it important?
The Transfer Balance Cap is tracked by the ATO to ensure members remain under this cap to retain their 100% tax free income.