SMSF Insights

SMSF InsightsUnderstanding SMSFs

Your Super Update – Edition 3

Updated as of 20 December 2023 A round-up of some superannuation changes September – December 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. The…

Administering and ReportingSMSF InsightsUnderstanding SMSFs

Understanding Rent Valuations in SMSFs: Balancing income tax and compliance risks

Navigating the complex landscape of Self-Managed Super Funds (SMSFs) can be challenging. Ensuring compliance and avoiding tax pitfalls like Non-Arm’s Length Income (NALI) are critical for trustees, particularly when it comes to rent valuations for related commercial tenancies. The Trustee’s Responsibility As a trustee you must ensure that all rental transactions with related parties are…

Administering and ReportingSMSF InsightsUnderstanding SMSFs

ATO Update: SMSFs to navigate enhanced online security measures

Written by Mary Simmons, Head of Technical, SMSF Association As part of the ATO’s commitment to safeguarding taxpayer’s information from fraudulent activity and identity theft, an added layer of verification will be introduced to ensure that only authorised tax agents, BAS agents, or payroll service providers can link to an SMSF. The client-to-agent linking protocol…

NewsSMSF Insights

The Dos and Don’ts of Your SMSF Property Investment

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.…

NewsSMSF Insights

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…

NewsSMSF Insights

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…

NewsSMSF Insights

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…

SMSF InsightsUnderstanding SMSFs

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…