Maann is a Communication Specialist and educator and is the Content Strategy and Performance Specialist of the DBA Group. She is also a certified Digital Marketing Professional, with expertise in SEO Audit. Maann has taken both her master’s degree in Development Communication, and bachelor’s degree in Mass Communication from the University of the Philippines.
An SMSF compliance checklist for Australian trustees covers the obligations recurring annually: appointing an approved auditor, lodging the annual return, reviewing the investment strategy, valuing assets at market value, monitoring contribution caps and the in-house asset limit, and reviewing nominations. Confirm current requirements against ATO guidance.
For SMSF trustees and employers, Payday Super requires contributions to reach each employee’s fund within 7 business days after payday rather than quarterly. For funds receiving contributions from a related employer this compresses the timing margin considerably.
A suspicious matter report must be lodged with AUSTRAC when a reporting entity forms a suspicion on reasonable grounds in connection with a designated service. Separate tipping-off rules prohibit disclosing that a report has been made. Confirm current timeframes and requirements against AUSTRAC guidance.
AML/CTF training requirements apply to all staff involved in providing designated services, including support staff who handle customer information. Training must cover obligations, red flags and internal reporting, and must be documented in a way that evidences understanding rather than attendance alone.
AUSTRAC registration for accountants applies to firms providing designated services under the AML/CTF Act. Enrolment is the first step; obligations including customer due diligence, reporting and record-keeping begin from the point the entity starts providing designated services.
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