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What you should do if you are an SMSF trustee who becomes a disqualified person
There are consequences when a trustee of a self-managed super fund (SMSF) becomes a 'disqualified person'. Trustees include directors of a corporate trustee of an SMSF. If you are a trustee and become a disqualified person, you are not allowed to remain a trustee.
A person can become a disqualified person for a number of reasons, most commonly when they are considered to be insolvent, under administration or an undischarged bankrupt.
A disqualified person commits an offence if they know they are disqualified and continue to be, or act as, a trustee of an SMSF. Penalties, including fines and imprisonment, can apply. There is also a risk the SMSF can be made non-complying if you do not take appropriate action.
If you become a disqualified person you need to:
-remove yourself as trustee and inform us immediately
-transfer your superannuation interest out of the SMSF
If by doing so the fund no longer meets the definition of an SMSF, it may need to be restructured to meet the requirements of a regulated super fund or be wound up.

For more information, refer to Disqualified persons and self-managed superannuation funds.

Can the intended auditor still audit your SMSF?
Each income year, a self-managed super fund (SMSF) trustee must appoint an independent approved SMSF auditor to perform a financial and compliance audit of their SMSF's operations before they lodge their SMSF annual return.
Trustees should check with the auditor they intend to appoint to make sure they are registered with the Australian Securities and Investments Commission (ASIC) and have been issued with an SMSF auditor number, even if they have appointed this auditor for previous years.
They must appoint their auditor no later than 45 days before the SMSF annual return is due for lodgment.
For more information, refer to http://www.ato.gov.au/Super/Self-managed-super-funds/In-detail/News/Super-reform/Changes-to-appointing-an-approved-SMSF-auditor/

The ATO has finally released some advice as to how to tackle this issue of ownership of assets in an SMSF.
There has always been a problem where an SMSF has individual trustees and holds assets such as property. The problem is that in most states you can not disclose the superannuation fund as the owner of the property. It is merely the individuals shown as the owners.
Read more here.

Changes affecting your employer clients from 1 July 2013
Employers across Australia will have new superannuation obligations under a range of reforms. From 1 July 2013, they will need to:
- increase the minimum rate for super guarantee payments on behalf of employees from 9% to 9.25%
- start making super guarantee payments for employees aged 70 years or older, as the existing upper age limit will be removed.
We are sending information out to all employers in April to raise awareness of these (and future) changes.

To find out more, refer to Getting your employer clients ready for changes to super

Self-managed superannuation funds - starting and stopping a superannuation income stream (pension)
When does this apply?
This applies from 1 July 2007.
The general powers of administration concession applies from 1 July 2007.
Last Modified: Wednesday, 23 January 2013

Self-managed super fund trustee declaration and key messages for trustees
We have recently undertaken a review of the Trustee declaration (NAT 71089) and the associated fact sheet Self-managed super funds - key messages for trustees (NAT 71128).

As a result of this review, changes have been made to both documents.

The most notable changes to the 2012 version of the Trustee declaration are the following inclusions:

• requirement that the investment strategy be regularly reviewed
• consideration of whether the fund should hold insurance cover for members
• declaration that trustees of SMSFs are aware that they do not have access to the government's financial assistance program in case of financial loss due to fraudulent conduct or theft.

In Self-managed super funds - key messages for trustees, we have provided information for trustees about the protection of super in SMSFs.

All new trustees (and directors of corporate trustees) of SMSFs must complete and sign the Trustee declaration to show they understand the trustee duties and responsibilities under super law.
Printed stock of these documents will be available in early 2013. To download the online version of the documents, refer to:

• Trustee declaration
• Self-managed super funds - key messages for trustees

ATO Compliance focus - Exempt Current Pension Income
With approximately 34% of SMSFs in pension phase, Exempt Current Pension Income (ECPI) continues to be a major deduction for SMSFs. Representing approximately 83% of total deductions in 2010 the ATO has outlined ECPI as an area of compliance risk in its 2012-13 Compliance program.

Self-managed super fund arrangements to acquire property which contravene super law
We have recently issued Taxypayer Alert TA 2012/7 that describes certain arrangements entered into by self-managed super funds (SMSFs) to acquire property which do not comply with super law.
SMSF trustees and advisers need to exercise care when investing in property. It is important to ensure any arrangements entered into by an SMSF to invest in property are properly implemented, particularly those involving limited recourse borrowing arrangements (LRBA) or the use of a related unit trust.
For more information, refer to Taxpayer Alert TA 2012/7

Small business, tax and the cash economy
Information to help small businesses, tax practitioners and the community to be aware of, and avoid, illegal cash economy activities.
http://ato.gov.au/content/00331880.htm
Published: 14 Sep 2012

Super - your money, your future
Tips for young people about what superannuation (super) is, what to do when starting a new job, the reasons to keep track of it.
http://ato.gov.au/content/66992.htm
Published: 28 Sep 2012

Help for small businesses experiencing short-term financial difficulties
An overview of the assistance measures provided for small businesses.
http://ato.gov.au/content/00196536.htm
Published: 03 Oct 2012

Guide for employers
You have specific responsibilities at every stage of your worker's engagement, from engaging your first employee or contractor through to ceasing to be an employer.
http://ato.gov.au/content/00292769.htm
Published: 08 Oct 2012

Stay in control of your business
Transcript of the 'Stay in control of your business' short YouTube video.
http://ato.gov.au/content/00331042.htm
Published: 04 Sep 2012