📈 Today's Commercial Property & SMSF News
ATO Clarifies Stance on Low-Cost SMSF Audits
The Australian Taxation Office (ATO) has addressed concerns regarding the feasibility of comprehensive Self-Managed Superannuation Fund (SMSF) audits performed for exceptionally low fees, some as low as $300. During a recent SMSF Association conference, Paul Delahunty, an ATO director, acknowledged that many auditors question if such a fee adequately covers the intricate compliance requirements. However, the ATO maintains that while a low audit fee might signal a potential risk, it does not automatically indicate that the audit is substandard or non-compliant. The regulator emphasizes that the quality of an audit is not solely determined by its cost.
Source: www.smsfadviser.com
Navigating Residential Property Sales from an SMSF
Residential property continues to be a favoured asset class for Australian Self-Managed Superannuation Fund (SMSF) investors seeking direct control and long-term capital growth for their retirement savings. However, according to Liam Shorte, a director at SONAS Wealth, a growing number of SMSF trustees are now exploring options to divest these properties from their funds. This trend is driven by various considerations, including the impending Division 296 tax changes and trustees' desire to reallocate the property for personal or family use outside the superannuation structure. Trustees must adhere strictly to superannuation rules if they decide to remove such investments from their SMSF.
Source: www.smsfadviser.com
ASIC Investigates Alleged $5M Cash Offer Amidst Insider Trading Claims Against Former WiseTech CEO
Australia's corporate watchdog, ASIC, is reviewing a significant audio recording that potentially undermines the defence of billionaire Richard White against accusations of insider trading. The recording, reportedly from early February 2025, captures White allegedly proposing a $5 million tax-free cash payment to a former staff member. This former employee had previously brought forward serious concerns to the WiseTech Global board, including claims of underpayment and inappropriate behaviour by White, as well as communications from White's spouse. The timing and nature of this phone conversation are critical, as they raise questions about White's professional capacity—whether he was still involved in a management or consultative role—following his resignation as chief executive in October 2024 due to multiple allegations of misconduct concerning women.
Source: www.smh.com.au
📊 Yesterday's Key Developments
Victorian Government's Proposed Auction Reserve Price Rules Spark Seller Concern
The Victorian state government is contemplating new regulations that would compel property sellers to publicly reveal their reserve price a full week before an auction takes place. This initiative is being introduced as a measure to tackle underquoting within the real estate sector. However, industry experts and real estate agents have voiced considerable worry, suggesting these impending rules could significantly diminish buyer competition, potentially 'trap' sellers, and fundamentally alter the nature of property auctions. Concerns are mounting that requiring early disclosure might deter prospective bidders and result in less vigorous bidding, particularly as Melbourne's auction market is already showing signs of cooling, marked by a rise in single-bidder sales and a reduced clearance rate.
Source: www.realestate.com.au
Published: Monday 23 March 2026 | Fresh Articles: 13 | Sections: 4 | RunID: 2026-03-23T08:15:38+11:00
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