The Australian Prudential Regulation Authority (APRA) report on Commonwealth Bank of Australia (CBA) subsequent to its prudential inquiry findings is already having an effect on the corporate governance of boards of directors across the domestic business landscape, according to a panel of corporation chairmen.

SMSF trustees and members must be vigilant about being the target of promotions for unlawful schemes and arrangements that appear legitimate, according to the ATO.

The different rules governing the transfer balance account report (TBAR) for SMSFs compared with Australian Prudential Regulation Authority (APRA)-regulated super funds may easily lead to attracting an excess transfer balance cap determination and the associated tax penalty, a technical expert has warned.

The SMSF Association has criticised a federal government proposal to make amendments to legislation in relation to limited recourse borrowing arrangements (LRBA).

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

Trustees must undertake reasonable steps to ensure an SMSF’s assets and investments can be valued fairly and objectively ahead of adding them to the fund, a technical expert has warned.