The ATO has issued an SMSF Regulator’s Bulletin detailing its stance on the use of reserves in SMSFs.

A technical expert has told SMSFs to monitor whether administration costs are raised due to events-based reporting especially among administrators that are not fully automated.

The ATO is in the process of examining all SMSF investments in unit trusts as part of its compliance activities regarding related-party transactions, a technical expert has revealed.

The inability to roll over the portion of death benefit pensions that exceed a surviving member’s transfer balance cap (TBC) under the new super reforms means SMSF trustees must scrutinise the tax implications of retaining these monies inside super or exiting them from the system, an industry consultant has said.

The ATO has hinted it will be examining whether a binding death benefit nomination (BDBN) can affect the treatment of an existing member’s pension upon the death of that member.