The consequences of underpaying a pension in the 2025 financial year just got a whole lot tougher. TR 2013/5 was updated in June 2024, introducing a new approach to processing underpaid pensions, requiring SMSF trustees and professionals to understand these changes thoroughly.   The One-Twelfth Rule Still Applies Before delving into the changes affecting underpaid pensions, it is essential to clarify that the one-twelfth rule  remains in effect.   The rule provides limited c

In the final instalment of our series on Part A Qualifications, we take a step back to look at the big picture and deep dive into what really matters in practice. Risk Managing SMSFs Part A qualifications can be the difference between alerting SMSF trustees to issues within their funds or missing them altogether.   In the McGoldrick and Baumgartner cases, both auditors failed to notify the trustees of issues within their funds and did not communicate with them.   The Baumgart