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the one Genia put up is still crazier. This one is at least in the Doncaster Hill area.

I agree that is crazy. I know it is a big block and the Tunstall Square area is ripe for development but still...

I am sorry if you where offended. I am not GaryT but I was not happy with your comments towards GaryT specially when he was correct. I thought your words were demeaning and did not make a lot of sense.

Drinking and writing on Somersoft is not the greatest idea. I agree with GaryT. When clients ask me about share trading and SMSF's. I usually say it is ok but I would prefer that they show it on Capital account and not show it as a business. For the Audit I do not charge clients per...

My sister uses and appears to be happy with Carol Banfield at Parkes Property http://www.parkesproperty.com.au/ The other option I would look at would be Lil Skater from this forum. http://qura.com.au/

Most would have been educated here and done CPA ec... my bigger concern is the data you give them access to and what they could do with it. They can tell you all you want to hear but you just do not know. I make sure that as much as possible I control the data I receive from clients. Also...

Comsec statements or Westpac broking statements are not to used as Audit evidence. You can not get a GS007 report for them. Full wraps are a different story. Comsec and Westpac broking statements are not wraps. The auditor still needs to go to Computershare or link market or other registrar to...

With me that counts as 10 investments. Each additional type of share purchased increases the work required. You can not check all your shares in one go. eg. If I need to check say your Wesfarmers holdings I need to go to Computershare and then if I need to check your Telstra shares I...

I am an SMSF Auditor If only two investments (one bank account and one managed fund), my fixed price is $300 + Costs (which most likely is an ASIC search fee, if you have a corporate trustee) So total (with ASIC Search Fee) would be $316.81 (GST Inclusive). Note this fee is for up to 4...

I do not understand your post Paul. It might just be that it is Friday afternoon. 17B covers work done by trustee which are not in their capacity as trustee of the fund. the most common expense(work) which falls under 17B is accounting fees. The owner of an accounting practice uses his...

Paul, you are going off onto to tangent. You said the trustee/director could not build the house which is not 100% correct. This what I was pointing out. If the trustee/director is a builder which owns and runs a building business and they treat the fund as just another client, they can...

I disagree with this, it is easier to say this so the client does not stuff it up but I can not see why they could not as long as it is on an arm's length bases and if the trustee/director of trustee is doing the work they meet the conditions in Section 17B of SIS...

yep the fund can purchase the land and then build on it, if it has the cash. Personal money not to be used, unless it goes into the fund as a contribution and meets the contributions caps.

Is this what they would do if they were unrelated ie at arm's length?

You can purchase a property cash. It is easier to do this then deal with the bare trust ec... Just note do not purchase residential property off a related party and if purchasing commercial (business real property) off a related party please ensure there is a legally enforceable lease...

But if you do not test the CIV for reasonableness how would you know. In short you might think that the rates notice is appropriate audit evidence, I do not. I do not believe it to be reliable and therefore I do not accept them. Most of my clients know to get a real estate agent valuation...

Some are questionable and boarder line, especially from some of the second tier banks. The St George/Westpac ones are very clear and I can see how they comply. NAB is not to bad but I did have an issue the other day where they appear to have not confirmed that a bare trust existed. We...

The rates notice is the last thing I would accept as proof of a valuation. Some councils are ok some are way off and I am not going to work out which council I can trust. If the trustee wanted to use the rates notice as a bases I would preference them to go to say http://house.ksou.cn/ and pick...

From an auditors point of view, I prefer to see the St Georges loan documents then some of the others. They given me a better level of comfort, that the fund complies the SIS Act.

You will be able to half the accounting and audit fees without any trouble. For $3,500 in admin fees for a SMSF, I would expect it to be a big fund with some issues that needed to be sorted.