Mixed response to RBA rate rise
There has been a mixed response from employer and industry groups to the Reserve Bank’s rate rise yesterday.
READ MOREAAT decision points to 'surprising' interdependency issues
A decision from the Administrative Appeals Tribunal (AAT) has elements that may "surprise" SMSF professionals and challenge their understanding of what constitutes an interdependency relationship.
The facts of TBCL and Commissioner of Taxation [2016] AATA 264 include a son who was born in 1991 – the only child of two parents, who he lived with until 2007 before relocating. He returned to live with his parents in 2009, before his death in a motor vehicle accident in 2013, DBA Lawyers director Bryce Figot explained.
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Accountants to decline ‘capacity to repay’ requests
Several accountancy associations have advised members to decline requests to provide “capacity to repay”...
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Heavy cryptocurrency exposure to attract auditor scrutiny
SMSFs with a significant exposure to cyrptocurrency assets are likely to be viewed as high risk at audit time...
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