Education

ATO approval for compassionate release is available on five grounds: preventing foreclosure on a home, medical treatment and transport, palliative care, funeral expenses, and disability modifications to a home or vehicle. Each ground carries specific eligibility criteria that must be satisfied before the ATO …

The sole purpose test in section 62 of the SIS Act requires that an SMSF be maintained for the purpose of providing retirement benefits to its members, or death benefits to their dependants. Any business carried on by the fund must be consistent with …

The wind-up date for an SMSF is the day on which the fund holds no assets. This is not the date on which trustees decide to wind up, nor is it the date that members' benefits are paid. The fund continues to exist until …

The final audit must be conducted by an ASIC-registered SMSF auditor. The auditor must be appointed at least 45 days before the intended lodgement date of the final annual return. Trustees must provide the financial accounts and compliance documents, and the auditor has 14 …

The starting point is the trust deed. Some SMSF trust deeds require assets to be converted to cash before benefits can be paid, which would prevent an in specie transfer entirely without a deed amendment. Trustees must confirm the deed permits this method of …

The corporate trustee company must remain registered and operational throughout the SMSF wind-up process. The company provides the legal framework through which assets are held, transferred, and the final return is lodged. Attempting to deregister the company before the wind-up is complete creates a …

The government has proposed requiring prospective SMSF trustees to complete approximately three hours of education before they can register a new fund. The proposal was announced in August 2026 but has not been legislated. Until the law changes, no pre-registration education is required under …