The government’s move to extend temporary measures allowing the execution of legal documents electronically has been delayed.

The preparation of SMSF financial statements may yet have reporting deadlines imposed with Treasury concerned by the open timeframes used.

SMSFs that have lost their deed should consider creating a new fund, rather than merging with another fund, to overcome any document losses or deficiencies.

As rent relief measures come to an end, SMSFs have been reminded that only formal legal documents can be accepted by an auditor and the ATO when assessing the income of the fund.

The ATO has confirmed trustees will have to ensure proper protocols are followed when using electronic signatures to approve SMSF financial statements.