In this episode of THE SMSF Experts, Shelley is joined by Bryce Figot, special counsel at DBA Lawyers, to discuss the significant impact of case law on SMSF trustees and compliance obligations. With over 21 years of experience in tax and superannuation, Bryce shares insights on landmark cases like Hill v. Zuda, Katz v. Grossman, and the consequences for SMSF professionals and auditors. Shelley and Bryce dive into how these legal precedents have shaped best practices, estate planning, and the nuances of trustee responsibilities within the SMSF industry.

(01:16 The Fascination with Self-Managed Super Funds
(02:20 Championing SMSF Auditors
(04:15 Case Law Impact on SMSFs: Hill vs. Zuda
(11:52 Katz vs. Grossman: Trustee Discretion and Family Disputes
(21:02 Aussiegolfa vs. Commissioner of Taxation
(21:43 The Sole Purpose Test and In-House Asset Rules
(25:42 Penalties and Compliance in SMSFs
(30:16 Auditors' Responsibilities and Landmark Cases
(34:34 The Melissa Caddick Case and Settlement Insights

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In this episode of the SMSF Experts, Shelley sits down with Caroline Bowler, CEO of BTC Markets, to explore the controversial yet fascinating role of cryptocurrency in SMSFs. With over 17 years of experience in financial services and a deep expertise in blockchain and digital assets, Caroline shares valuable insights on whether crypto qualifies as a complying SMSF asset. They delve into regulatory challenges, investment strategies, and the broader impact of digital assets on the industry.

(00:31) Diving into Cryptocurrency

(02:25) Understanding Blockchain and Bitcoin

(03:42) The Evolution of Money and Value

(04:52) Bitcoin's Global Relevance

(07:55) Real-World Applications of Crypto

(10:54) Tokenisation and the Future of Digital Assets

(21:29) Regulatory Challenges and Scams

(26:54) Building a Regulatory Framework for Crypto

(27:52) Impact of Global Regulations on Crypto Prices

(28:41) Australia's Need to Catch Up in Crypto Regulation

(30:23) Challenges and Opportunities in Crypto Investment

(35:24) Understanding Crypto Wallets and Security

(39:46) Risks of Complex Crypto Products for Trustees

(45:15) The Potential of NFTs Beyond Digital Art

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In this first episode of the new 2025 series, Shelley delves into the critical issue of elder protection within SMSFs. With alarming statistics from the AIFS National Elder Abuse Study revealing significant incidents of elder and financial abuse, the episode highlights the urgency of safeguarding elder SMSF members. Special guest Louise Biti, Director of Aged Care Steps and a seasoned expert with over 25 years in the industry, shares her invaluable insights and strategies to address these pressing challenges.

(00:30) Understanding Elder Abuse in SMSFs
(01:01) Meet Louise Biti: Aged Care Expert
(03:32) Personal Insights on Retirement Planning
(04:47) Challenges of Navigating Aged Care for Parents
(06:42) The Role of Advisors in Aged Care Planning
(11:59) Red Flags and Cognitive Aging
(17:14) Elder Abuse in SMSFs: Risks and Realities
(23:31) Inheritance Impatience: A Form of Elder Abuse
(25:47) Supported vs. Substituted Decision Making
(26:46) Role of Enduring Power of Attorney
(27:24) Handling Subjective Decisions
(28:36) Supporting Decision Making
(29:24) Dealing with Elder Abuse
(31:04) Understanding EPOAs
(33:16) Appointing an EPOA
(36:31) Joint EPOAs: Pros and Cons
(38:24) New Aged Care Act and Financial Implications
(42:31) Importance of Professional Advice
(44:35) Real-Life Elder Care Scenarios

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For more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au