SMSF

The first challenge is understanding why annual reporting and independent audits are central to fund governance. Decisions made without a clear purpose can become difficult to evaluate later. A household or investor may have several competing objectives, including liquidity, long-term growth, certainty and flexibility. …

Division 296 tax applies a 15% additional tax to superannuation earnings attributable to balances above $3 million. For balances above $10 million, the rate rises to an effective 10% on the additional tier. The tax operates separately from the standard 15% concessional rate.

When a trustee makes a Division 296 cost base election, the completed form is retained in the fund's records. Trustees do not lodge it separately with the ATO. This distinguishes the election process from other fund reporting obligations where documents are formally submitted.

Bryce Figot of DBA Lawyers has identified a 90-day benchmark for valuation evidence timing. While the ATO's official guide does not set a fixed age limit, evidence that is more than 90 days old at the relevant measurement date faces greater scrutiny during audits …

From 10 August 2026, new limited recourse borrowing arrangements entered by SMSFs are limited to acquiring business real property. Other asset classes, including residential property and listed securities, are no longer eligible for new LRBA funding under this restriction.

The SIS Regulations require an SMSF to formulate, review regularly, and give effect to a written investment strategy. An unwritten or informal understanding about how the fund invests does not satisfy this requirement. The strategy must address the risk and likely return of assets, …

New SMSFs pay a supervisory levy of $518 in their first year of operation. This is double the $259 annual levy that continuing funds pay from their second year onward. The levy is payable via the annual return and funds should account for this …