The ATO has announced a time extension will apply to SMSF annual returns relating to the 2017 financial year due to the changed reporting circumstances arising from the super reforms.

The Federal Court has ruled a situation where an SMSF invests in property through a sub-fund where that property is subsequently leased to a related party will still be captured by the existing in-house asset rul

The total super balance of the individual members of an SMSF is the determining factor of how often a particular fund will have to complete a transfer balance account report (TBAR), rather than the total super balance of the member who is drawing a pension.

The SMSF community has expressed its approval of the announcement from the ATO as to what the rules governing total account balance reporting (TBAR) for superannuation funds will be.