Superannuation Fund 3 Year Audit Cycle
8th May 2018
The audit requirement for self-managed superannuation funds (SMSFs) will be changed to a three-yearly cycle for SMSFs with a good history record keeping and compliance, i.e. for SMSF trustees that have a good history for the last three consecutive years with clear audit reports and lodging tax returns on time.
This measure is scheduled to start on 1st July 2019. Funds can also have a maximum of 6 members from 1st July 2019 as well.