We have seen many changes and proposed changes to the superannuation system over the past year or so, and this year we will see many of these become law. As a trustee of an SMSF you need to know what your responsibilities will be and need to keep on top of the changes.
Click here to continue reading
SMSF – Self Managed Super Fund Education for Australia
SMSFeducation.com.au is the self education resource for self managed super funds, to help you learn, grow and protect your DIY Super or Self Managed Super Fund (SMSF).
High quality, structured educational content - essentially SMSF 101 – provided by an expert panel of contributors enables members to access videos, blogs and webinars that will assist in understanding the opportunities and responsibilities associated with running a Self Managed Superannuation Fund. Membership is available via a free subscription, which includes the additional benefits of:
- In depth online training videos
- Articles by industry leading experts
- Videos by industry leading experts
- Weekly SMSF newsletter
- Key compliance date reminders
- ATO Superannuation links and resources
Designed to help you or your clients (Trustees) successfully run a SMSF, taking full advantage of available opportunities as well as avoiding the pitfalls of a potentially complex structure, the interactive format means you can engage in dialogue with like-minded individuals as well as with the experts. Find answers to your questions as well as to questions you might never have thought to ask.
For your free membership click here to sign up
LATEST VIDEOS
FROM OUR CONTRIBUTORS
Wednesday, February 13, 2013
Monday, July 30, 2012
Advisers need to tailor their advice to clients at a generational level according to the findings of a new report from Macquarie Bank and the SMSF Professionals' Association of Australia Limited (SPAA).
Click here to continue reading
Monday, November 05, 2012
Anyone investing in shares is taking some level of risk. Even more of a risk if that share is not paying a reasonable dividend, because you only have the speculative hope of a return, if the share increases in value.
Click here to continue reading
Tuesday, February 28, 2012
Getting leveraged exposure to the share market doesn't always mean you'll be burdened with loans, interest payments and ongoing financial commitments.
This case study shows that for a one-off upfront payment, your SMSF can get leveraged exposure to the ASX200 with the potential to multiply returns.
Click here to continue reading
Friday, June 08, 2012
If you have plans to contribute a property in-specie to your SMSF prior to 30 June with a view of partially allocating some of that contribution to a member account this year and the balance to a reserve, be careful.
The ATO have the view as per NTLG Meeting in June with minutes about to be released, that any contribution needs to be treated as a whole when it comes to allocations.
Example:
- Property worth $600k contributed in-specie in June 2012
- $150k allocated to the member’s account in June 2012 and $450k allocated to an unallocated contribution account with a view to allocate to member account in July 2012.
ATO’s view is that under this scenario, Trustees will breach SIS Reg 7.04(3) as they have accepted a contribution in excess of the fund – being a capped contribution limit of $450k. They also have the view that the Trustees breach SIS Reg. 7.08(2) which is that they must allocate the contribution to a member of the fund. In other words the contribution must be treated in its entirety. Partial allocations cannot be done.
Click here to continue reading
Thursday, November 03, 2011
The most common reason for choosing to establish a SMSF is investment flexibility. Many people ponder what the point is of having a SMSF if you only want to own cash, shares or managed funds.
Click here to continue reading
Friday, May 25, 2012
A recent AAT case has highlighted the fact that internet banking transactions are not necessarily instantaneous and that the excess contributions rules are applied with draconian precision.
Click here to continue reading
Tuesday, July 03, 2012
For many years now, Accountants have been operating in financial services (eg. Advice about SMSFs) in a sort of limbo. They were allowed to give limited advice under an exemption in the Australian Financial Services License (AFSL) regime. The problem with
this arrangement for the Accountant, was that the exemption was actually very restrictive, virtually to the point of not being able to effectively advise clients at all. If they stepped outside the exemption parameters, they left themselves open to prosecution.
Click here to continue reading
Wednesday, February 15, 2012
I was recently asked “What power or authority does the ATO have to review or audit a SMSF that has just been formed".
Click here to continue reading
Wednesday, June 27, 2012
It seems an innocuous question. Yet the answer could be have unintended consequences.
Click here to continue reading
Wednesday, August 29, 2012
A number of changes to superannuation legislation have recently come into force.
Click here to continue reading
