Dec 15, 2021
In their final podcast for the year, hosts Aaron Dunn and
Miranda Brownlee reflect on what changes had the greatest impact on
SMSF professionals this year and explore some lingering practical
issues.
2021 brought further changes to systems and processes with the
introduction of director identification numbers for SMSFs with a
corporate trustee, new SuperStream standards, and the ATO now
consulting on a single TBAR reporting time frame for all SMSFs.
There was plenty happening on the legislative front as well, with
new measures announced for SMSFs and super in the budget. SMSF
professionals also had to grapple with auditor independence
changes, the indexation of the general transfer balance cap, and
the impact of COVID.
Aaron and Miranda discuss where the SMSF industry is currently at
in dealing with all these issues and any hurdles that professionals
are still dealing with.