It’s been a little over a year since the dual changes of the pension transfer balance cap and the reduction of tax concessions for transition to retirement pensions were implemented by the government. Recent research has indicated that these changes has achieved their policy outcome by making almost 25% of previously tax-free SMSF assets lose…

How often must your SMSF be audited? Currently it is every year, but the government has proposed to extend this to a 3-year cycle. The benefits are meant to be less red tape and lower costs, but there are concerns that this may not be the outcome. Funds have to be audited and auditors have…

SMSFs and your retirement horizon Self-Managed Super Fund (SMSF) trustees often ask themselves, “What is the right mix of investments for my SMSF?” It’s a very common question, and one that will need to consider individual preference and the time until retirement. The answer will not be the same for everyone, even for members within…

How to help ensure your superannuation contributions don’t exceed the caps Changes in the superannuation contribution caps, which kicked-in last year, give an added reason to keep a close eye on your contributions. From 1 July 2017, the concessional (before tax) contributions cap was reset to $25,000 for everyone (irrespective of age). For those earning…

Use your SMSF to teach your kids about finance With self-managed super funds (SMSFs) permitted to have up to four members, it may be a surprise for some to learn that approximately 70% of SMSFs have only two members and about a further 23% only have one.  Which means that only 7% of funds have…

Understanding how SMSF contributions work Contributions can play an essential role in a self-managed superannuation fund (SMSF). Your SMSF contributions can be made in two ways – either by cash or an asset (known in the trade as ‘in specie’ contribution). Typically, your SMSF can accept: employer contributions personal contributions salary sacrifice contributions super co-contributions…

Wind down

Self-managed super fund members have until 1 July 2016 to ensure any collectible or personal use assets held in the fund meet new rules that come into force on that date. The new rules were introduced to address concerns and tighten grey areas around how super funds can hold assets such as fine art, vintage…

3 key considerations

Australians are enjoying longer and more active retirements than ever before, so what can you do to help make sure your money lasts? Baby boomers are retiring in greater numbers and many have taken more control over their retirement savings by self managing their super. Over a third of self managed super funds (SMSFs) are…

Property

Australians have a love affair with property with many of us owning an investment property in addition to our primary home of residence.  This love affair has continued in recent years with a number of Australians setting up a self managed superannuation fund (SMSF) in order to invest in property. While it may be a…

5 steps SMSF

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