The 2018 Federal Budget proposed the SMSF audit cycle be extended to 3 years for funds with good compliance history, starting from 1 July 2019. Treasury has asked for industry consultation.
Saul SMSF is conducting a survey, allowing you to give your opinion on the principle of a 3 year audit cycle, its impact on pricing and on the SMSF industry as a whole.
Some key considerations are:
- How will audit costs and fees change for SMSFs?
- Would less frequent auditing weaken protection for vulnerable SMSF trustees?
- What impact do you think this will have on integrity of the SMSF sector?
Please note that if you complete the survey and include your name and email address in Question 30, we’ll send you a summary report of the results.
For more information, or to discuss these proposed changes, please click here to contact the Saul SMSF Team or call 1300 551 261
David Saul | Saul SMSF