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Many SMSF trustees don’t value or understand the work of SMSF auditors. Many trustees felt the auditors should just “tick and flick” the accountant’s work. An auditor plays an important role in an SMSF environment – a bad auditor could cost you your life savings. From 1 July all SMSF auditors will need to beRead more

Executive Summary: At the date of this report, royal assent passed; Australian Charities and Not-for-profits Commission (ACNC) commenced operations on 1 July 2012; The new reporting framework will apply to registered charities from 1 July 2013; There are three main objectives in the new legislation;   The introduction of a ‘one stop shop’ regulator calledRead more

Many SMSF trustees particularly those nearing or in retirement, are choosing bank accounts as their investment of choice. A large number of self-managed superannuation fund trustees chose to forsake the higher returns from the equity market during the September 2012 quarter and keep their money in the bank. Why? Because they are happy to earnRead more

Given the polarizing debate about resource rent taxes over the past 21/2 years a recent Goldman Sachs research report on the sector’s taxes globally helps provide a useful context for the local debate. Goldman’s analysts were looking at mining taxes in terms of the threat posed by growing resource nationalism to miners. Their key premiseRead more