The ATO has made a call to professional accountants to help identify and manage illegal early access to superannuation by members of
self-managed superannuation funds (SMSFs).
In general, access to your super is only possible if:
Early access to superannuation is only possible in very limited circumstances such as terminal illness, permanent incapacity, and severe
financial hardship and there are very strict protocols to follow before any amounts are paid out.
One of the benefits of an SMSF is the control that it provides to members. The flip side of full control is the temptation to dip into the
super account and approve transfers without proper controls.
There are two common ways illegal early access occurs:
Illegal access to the SMSF’s account or assets is not difficult to identify and generally will be picked up by your auditor. Where illegal
access has occurred, not only is it likely that your retirement savings have been lost or impaired, but you are likely to face additional
tax, penalties and interest, and be disqualified as a trustee. In addition, your name will be published online.
One of the signs that there is a problem is when SMSF annual returns are not lodged on time or at all so ensure you are up to date with your
SMSF compliance.
After overwhelming demand and sold-out sessions in Perth, Brisbane, Sydney, Melbourne and Mornington in 2025, we’re inviting expressions of interest for 2026. If you missed out earlier or are ready to dive into hands-on automation training, we’re considering additional sessions in various locations across Australia in 2026.
LIVE 2-DAY COURSE - MELBOURNE CBD
15 & 16 December 2025
Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA,
and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance
professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and
optimise VBA scripts, and deploy robust automation solutions independently.
LIVE 2-DAY COURSE - SYDNEY
11 & 12 December 2025
Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA,
and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance
professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and
optimise VBA scripts, and deploy robust automation solutions independently.
LIVE 2-DAY COURSE - ADELAIDE CBD
8 & 9 December 2025
Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA,
and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance
professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and
optimise VBA scripts, and deploy robust automation solutions independently.
Running a small business has always been personal. Every sale, every setback, every sleepless night - it all comes back to the same person: the owner.
A staggering 93% of small business owners reported higher costs this year, while 64% saw profits fall. Taxes, wages, and insurance top the list of pressures, with taxes ranked as the number one cost by half of respondents of a recent report.
Australia’s small business sector has always been defined by its resilience - but the latest Council of Small Business Organisations Australia (COSBOA) and CommBank Small Business Perspectives Report 2025 shows that resilience is being tested like never before.
Online loan calculators can give you a realistic estimate of your potential repayments without affecting your credit score.
The ATO is tightening the screws. They’ve issued a clear warning to businesses: stop inflating or falsely claiming GST. And they’re not just making noise - thanks to advanced data-matching and technology, they’re more capable than ever of spotting discrepancies.
Debt consolidation works best when the new loan has a genuinely lower interest rate and a reasonable term.
Smart Private Wealth is proud to announce that Founding Director, Shannon Smit, has been recognised in the 2025 FS Power50, Financial Standard’s annual list of the 50 most influential financial advisers in Australia.
Running a small business has always been personal. Every sale, every setback, every sleepless night - it all comes back to the same person: the owner.
A staggering 93% of small business owners reported higher costs this year, while 64% saw profits fall. Taxes, wages, and insurance top the list of pressures, with taxes ranked as the number one cost by half of respondents of a recent report.
Australia’s small business sector has always been defined by its resilience - but the latest Council of Small Business Organisations Australia (COSBOA) and CommBank Small Business Perspectives Report 2025 shows that resilience is being tested like never before.
