Revised as at 03 June 2022 Managing your own super has many benefits, but it’s important to have a plan. There are certain aspects you must consider to ensure you are meeting all of your yearly requirements. Step through the year with confidence with your SMSF Yearly Planner, detailing what you need to address each…
June 3, 2022
Your Handy 2022/23 Super Reference Guide
Updated as of 03 June 2022 Gain an overview of the 2022/23 financial year contribution caps, eligibility, glossary of key terms and more with our handy Super Reference Guide. A handy guide to help you step through the new financial year with confidence, the 2022/23 Super Reference Guide is a quick reference to help you…
March 29, 2022
2022-23 Federal Budget Summary – A quiet night for SMSFs
Written by Tracey Scotchbrook, Policy Manager, SMSF Association As expected, the 2022-2023 Federal Budget has a strong emphasis on cost-of-living relief, job growth and women’s security. From an SMSF (and superannuation perspective) this year’s Federal Budget was a quiet one, and saw continued stability for SMSF trustees. The following is a brief summary of the…
November 16, 2021
What is a Director Identification Number (director ID) and do I need one?
You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a director ID also applies to individuals who have an SMSF with a corporate trustee. All directors of your corporate trustee will need to apply for their own…
October 28, 2021
SMSFs and COVID-19 relief available in 2021-2022
Ordinarily, managing an SMSF to ensure it doesn’t breach any of the rules is complex. Add the uncertainty created by a global pandemic and it’s never been more important to understand what relief, if any, your fund may qualify for in 2021-22 and what evidence your auditor will need to see to ensure that no…
October 19, 2021
SMSF Property Valuations
Written by Daniel Shaw, DFK Benjamin King Money, SMSF Specialist Advisor (SSA™) The ATO has provided updated guidance on the types of evidence a trustee can use when valuing its property holdings in an SMSF. Prior to 1 July 2012, you, as an SMSF trustee, could provide a valuation for SMSF assets every three years.…
September 16, 2021
Why does my auditor need evidence of asset values?
Written by Belinda Aisbett, Director, Super Sphere Pty. Ltd As a trustee, when preparing your information for your accountant to undertake the task of preparing your SMSF’s annual financial report, inevitably, a query will be made in relation to the evidence needed for your asset values. For many funds this is an uneventful requirement –…
May 11, 2021
A strong Budget for SMSFs | 2021 – 2022 Federal Budget Summary
Written by Peter Burgess, Deputy CEO / Director of Policy & Education, SMSF Association As expected, the 2021-2022 Federal Budget has a strong emphasis on job growth and women’s security. From an SMSF perspective, after a few quiet Budgets, there were some welcome surprises for the SMSF investors in this year’s Federal Budget. The following…
April 22, 2021
Your 2021 End of Financial Year (EOFY) Considerations
The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception. With the worst of the pandemic hopefully behind us, you may still have difficult questions to ponder as you focus on how best to position your SMSF in 2021-22, as well as meet your fund’s annual regulatory obligations for 2020-21. If there…
September 30, 2020
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Issue 15: How did your SMSF portfolio survive reporting season?
For income investors, a more important question may be; how does my future cash flow stack up now I know more following reporting season? Welcome to our third instalment this financial year and the first following a reporting season telling us a little more about how companies have fared during COVID-19 as they report their…