Build an SMSF contraventions checklist from the accounts
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List possible s 65 loan, in-house asset, sole-purpose and related-party issues from the accounts, and draft a first-pass s 166 SIS Act voluntary-disclosure letter.
- What the lawyer must review
- Use PCG 2016/5 (not PCG 2018/7) for the LRBA related-party safe harbour
- Check yearly rates (2025-26: 8.95% real property, 10.95% listed shares)
- Calculate in-house assets at 30 June market values
- Check s 166 SIS Act and Sch 1 TAA 1953 penalties
- Check current NALI/NALE amendments
- Written for / version
- Commonwealth versionCth
Rules that apply
The document starts from the task name. Change it if this piece of work is different.
Who does what
| Role | What they do |
|---|---|
| Assistance | Potential support includes preparing preliminary structure or wording. Confirm the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.