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…
Do this after June 30 and you could boost your super by $110,000
Opinion piece written by Peter Burgess, CEO, SMSF Association First published in Financial Review on 17 May 2023. Licensed by Copyright Agency. Getting the timing right on contributions is just one of a host of things SMSF members need to pull together before the end of the tax year. With June 30 fast approaching it’s…
Your Super Update – Edition 1
Updated as of 02 May 2023 A round-up of some superannuation changes January – April 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.…