Written by Neil Sparks, Head of Membership & Corporate Development, SMSF Association First published in Eureka Report 12 September. Licensed by Copyright Agency. Neil Sparks, head of membership & corporate development at the SMSF Association, lists all the things you can’t do with property when you have an SMSF – and it’s a long list.…
The importance of getting the details right at tax time
Written by Fabian Bussoletti, Technical Manager, SMSF Association As many individuals start to turn their minds toward meeting their tax time obligations, a recently published Administrative Appeals Tribunal (AAT) case highlights the strict application of the Notice of Intent (NOI) requirements when claiming a tax deduction for personal superannuation contributions – and the importance of…
How family super funds can boost wealth
Opinion piece written by Peter Burgess, CEO, SMSF Association First published in Financial Review 6 September 2023. Licensed by Copyright Agency. New rules that allow SMSFs six members rather than just four offer opportunities for transferring assets to the next generation, as well as boosting contributions. There is little doubt significant demographic and cultural change…
Considering an SMSF? It’s About Choice & Control
Written by Neil Sparks, Head of Membership & Corporate Development, SMSF Association First published in Eureka Report 22 August. Licensed by Copyright Agency. Neil Sparks, head of membership & corporate development at the SMSF Association, the peak national body for the industry, examines the reasons why younger groups are opting to establish SMSFs – and…
Your Super Update – Edition 2
Updated as of 16 August 2023 A round-up of some superannuation changes May – August 2023 and key developments that may be relevant to you, as trustee of your SMSF. It is important that you know what changes are coming, so you can effectively understand how they may affect you and the members of your SMSF. Download…
Self-managed superannuation offers choice and control… and more young people want it
Opinion piece written by Tracey Scotchbrook, Head of Policy & Advocacy, SMSF Association First published in The West Australian 21 August 2023. Licensed by Copyright Agency. There are two words that perfectly encapsulate why people choose a self-managed super fund — choice and control. Control has been a long-held attraction of SMSFs. Although managing your…
How a family misfortune could push you over new $3m cap
Opinion piece written by Tracey Scotchbrook, Head of Policy & Advocacy, SMSF Association First published in Financial Review 09 August 2023. Licensed by Copyright Agency. Even couples well below the new proposed threshold could face an extra 15 per cent tax thanks to an insurance payout in tough times. There has been much talk about…
Trustees trapped in nightmare of new expense rules
Opinion piece written by Peter Burgess, CEO, SMSF Association First published in Financial Review 13 July 2023. Licensed by Copyright Agency. What is being forgotten is that the goal behind the change was to target SMSFs that enter borrowing arrangements with related parties on non-arm’s-length terms. New non-arm’s-length expense (NALE) rules have become an administrative…
$3m super tax cap will hit farmers’ finances
Opinion piece written by Peter Burgess, CEO, SMSF Association First published in Financial Review on 15 June 2023. Licensed by Copyright Agency. Agricultural landowners are often asset rich and cash poor – which is why they will be gravely disadvantaged by the proposed $3 million cap on super balances. Just do the sums. At March…
Your Handy 2023/24 Super Reference Guide
Updated as of 08 June 2023 Gain an overview of the 2023/24 financial year contribution caps, benefit payments, eligibility and more with our helpful Super Reference Guide. The 2023/24 Super Reference Guide is a useful and quick reference to help you and your self managed super fund step through the year with confidence. Download your…