Super News

We annually  prepare a newsletter for the benefit of accountant and trustees.

These are our recent newsletters:-

 March 2017 Newsletter
 June 2016 Newsletter
 June 2015 Newsletter
 June 2014 Newsletter
 June 2013 Newsletter



Regulation 4.09(e) requires all SMSFs to include in their Investment Strategy whether there is a need for the Fund to hold a Contract of Insurance for members.  Has your Investment Strategy been updated to cater for this requirement?  The Fund’s auditor will need to sight your updated Investment Strategy to ensure that it complies.  A contravention will occur if the strategy does not comply

Trustees are now required to “review regularly” their investment strategy.  While the term “regularly” is not defined, it must be done at least annually.  Furthermore, if a Fund’s investments do not comply with the Fund’s strategy, it indicates the strategy has not been reviewed and a contravention may have occurred.


SMSFs are required to report all Fund assets at market value.  Market value is confirmed as the amount a willing buyer would pay to a willing seller in an orderly arm’s length transaction with proper marketing and both parties acting knowledgably and prudently.  Failure to do so could lead to a penalty.

Auditors will need to sight evidence of how the value was attained, including a Trustee Minute recording the decision on how market value was ascertained and what evidence was used.  This may not be required for listed securities, but is essential for assets such as real property, unlisted shares & unit trusts as well as collectibles.

Super News will be updated by Australian SMSF Audits from time to time.

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© Eric J Taylor, B Com (Adel), FIPA, CTA.
"Australian SMSF Audits" is a registered business of Eric J Taylor, ABN 76 114 458 058.

Eric J Taylor is a Registered SMSF Auditor and Registered Tax Agent.
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