A strong Budget for SMSFs | 2021 – 2022 Federal Budget Summary

May 2021 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…

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SMSFs with collectables need to read the fine print

April 2021 Opinion piece written by John Maroney, CEO, SMSF Association First published in The Financial Review on 21 April 2021. Licensed by Copyright Agency.   Got art, jewellery or cars in your collection? Watch out for how they’re insured, where you store them and who uses them. The rules around the holding of collectables and personal-use assets…

Your 2021 End of Financial Year (EOFY) Considerations

April 2021 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.…

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Running an SMSF is far from set and forget

April 2021 Opinion piece written by John Maroney, CEO, SMSF Association First published in The Sydney Morning Herald on 13 April 2021. Licensed by Copyright Agency.   The decision to set up a Self-Managed Super Fund (SMSF) should not be taken lightly. Although it puts SMSF trustees on a journey towards financial self-funding in retirement, it…

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Devil in the detail with indexed super transfer cap

March 2021 Opinion piece written by John Maroney, CEO, SMSF Association Most self-managed super fund members and their advisers were coming to grips with the new rules around transfer balance caps. But then along came indexation. When the Transfer Balance Cap (TBC) was introduced on July 1, 2017, the federal government’s aim was to introduce…

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Special Address: Senator the Hon Jane Hume

February 2021 The SMSF Association were honoured to be joined by Senator the Hon Jane Hume, Minister for Superannuation, Financial Services, and the Digital Economy earlier this month at their virtual National Conference, the premier event for SMSF professionals and the SMSF sector. In her Special Address to over 1100 delegates, the Minister provided a…

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Reform aims to cut costs and simplify SMSFs

February 2021 Opinion piece written by John Maroney, CEO, SMSF Association Trustees frustrated by excessive paperwork and expensive advice frameworks will be watching two government initiatives with great interest. There is growing momentum for financial services reform that could see the cost of administering a self-managed super fund fall, with federal Treasury and the Australian…

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Pandemic puts investors in charge

February 2021 Opinion piece written by John Maroney, CEO, SMSF Association Published in The Financial Review on 23 February In the three months to September 30 last year, the number of self managed superannuation funds increased 5,530 as 5,607 people decided they wanted to take direct control of their super. Last financial year tells a…