Know the Rules Before You Break Them: Why SMSF Education Matters More Than Ever

STAFFORD, Australia - EntSun -- Running, or deciding to set up a self-managed super fund (SMSF) gives you control, but it also brings legal responsibilities.

Why understanding SISA matters

You can't comply with what you don't know: Many common breaches arise from misunderstanding basic SISA duties (for example, sole purpose, arm's length dealings, or in-house asset limits). Awareness of the rules is the first step to spotting a problem early.
Early identification reduces harm: Knowing what to look for, incorrect benefit payments, related party transactions that aren't on commercial terms, or records that are incomplete, lets you seek advice before small errors become reportable contraventions.
Education protects members: The consequences of a breach can include loss of tax concessions, penalties and remediation costs that reduce retirement savings for members.

More on EntSun News

• Private Keys Are a Single Point of Failure: Security Advisor Gideon Cohen Warns MPC Technology Is Now the Only Defense for Institutional Custody
• Compliance Is the Ticket to Entry: Legal Advisor Gabriela Moraes Analyzes RWA Securitization Paths Under Brazil's New Legislation
• MONSTER HUNTERS Episode #1 Unleashed!
• Djamee Releases Groundbreaking Holiday Music Video, Feliz Navidad (Mi Hermano) a True NYC Bromance
• Phillip E. Walker's Hollywood Actor Jobs Dec. 10-20, 2025 PRE-TOUR Launches with SweetestVacation.com at CulverCityFilmFestival.com & Closes in the IE

The ATO's Focus on Education – What Trustees Need to Know

The ATO has recently published a draft Practice Statement (PS LA 2025/D2) explaining when it might issue an education direction under section 160 of SISA. These directions give the ATO power to require trustees (or directors of corporate trustees) to complete specified education, where trustees' knowledge or behaviour poses a risk to compliance. The draft statement sets out the ATO's approach and the kinds of circumstances that may lead to an education direction.

However, trustees should not wait for an ATO directive before getting educated – such a directive means the trustees have already breached the rules. The draft Practice Statement is intended to support compliance and public confidence, but it is not a substitute for proactive trustee learning. Acting early and voluntarily is both safer for trustees and viewed more favourably by regulators.

To learn more, speak to our experienced team of accountants in Stafford, Queensland. Learn more at https://mcfillin.com.au/.