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Quarterly Breakfast Club: An ATO Case Study on SMSFs

Published on 23 Sep 2003 | Took place at Hurstville and Chatswood , NSW

This seminar series was held in:
- Illawarra Catholic Club, Hurstville on 16 September 2003
- Gordon Rugby Club, Chatswood, on 23 September 2003

If you have a SMSF or are involved in advising or auditing SMSFs or preparing returns for them, these seminar materials will of particular relevance to you.

This case study presented by the ATO addresses many of the issues that have arisen in the recent pilot audits of 200 SMSFs.

Individual sessions

An ATO Case Study on SMSFs

Author(s):  Michelle CROSBY This presentation covers:
- the level of independence required of the person auditing the fund
- the prohibition on inhouse assets
- the need for real separation of assets of the fund from the employer/principals
- the employer meeting costs incurred by the SMSF
- the impact of minor breaches versus substantive breaches.

Materials from this session: