Written by Robin Bowerman, Head of Corporate Affairs at Vanguard Australia/Board Director of the SMSF Association First published in The Australian Financial Review on Tuesday, 3 July 2018. Licensed by Copyright Agency. “Two hundred thousand dollars is a lot of money. We’re gonna have to earn it” Clint Eastwood said as Blondie in The Good,…
July 3, 2018
Diversification within your self managed super fund
You don’t put money into your SMSF for it to sit in cash for 30 years or more. Your intention is to invest for your retirement and to get the best return you can now to ensure you have enough to live comfortably when that time comes. You don’t put money into your SMSF for…
July 2, 2018
The growth of savings outside super
Written by Robin Bowerman, Head of Corporate Affairs at Vanguard Australia/Board Director of the SMSF Association Are you among the investors holding a growing proportion of your investments outside super? Changes to the super system – particularly the lowering of contribution caps and the introduction of the $1.6 million pension transfer cap* – are inevitably…
June 30, 2018
New contribution rules in run up to the end of the financial year
Jordan George, Head of Policy, SMSF Association This article originally appeared in the June 2018 ASX Investor Update email newsletter and is published on the ASX website Age may just be a number, but it is an important factor in determining how the changes to the superannuation contribution rules apply to you. 65 and 75…
June 22, 2018
Why SMSFs want estate-planning advice
Written by Robin Bowerman, Head of Market Strategy and Communications at Vanguard/Board Director of the SMSF Association An estimated 77,000 self-managed super funds (SMSFs) have unmet needs for advice on estate planning. The 2018 Vanguard/Investment Trends SMSF Report confirms that estate planning is among the highest unmet needs for advice. This equates to 13 per cent of…
June 20, 2018
Transfer Balance Account Reporting (TBAR)
From 1 July 2017 superannuation fund members are subject to a $1.6 million transfer balance which limits the tax exemption for assets funding superannuation pensions. The Transfer Balance Cap (TBC) encompasses a significant amount of monitoring for an individual. This monitoring is to be facilitated by the Australian Taxation Office’s (ATO) event-based reporting framework. Event-based…
June 19, 2018
How to: Transfer Balance Account on mygov.gov.au
Members will be able to view their transfer balance account via myGov.gov.au, via your ATO account. If you are seeking assistance from an SMSF Specialist Advisor to lodge a transfer balance account report (TBAR) they will require a copy of your transfer balance account. This information is not yet available to professional advisors. You can…
June 19, 2018
How to: Transfer Balance Account Reporting (TBAR)
A step-by-step guide in to completing your Transfer Balance Account Reporting (TBAR) to the Australian Taxation Office (ATO) SMSF trustees can lodge a Transfer Balance Account Report (TBAR) to report information to the ATO by completing the online form or mailing a paper report. Alternatively, you can seek assistance from a Specialist SMSF Advisor, find one via…
June 18, 2018
SMSFs: Our ‘hardest’ jobs
Written by Robin Bowerman, Head of Corporate Affairs at Vanguard Australia/Board Director of the SMSF Association What are the hardest aspects of running your self-managed super fund (SMSF)? Do they include keeping track of the seemingly-constant regulatory changes, handling the impact of those changes, choosing investments or handling your fund’s paperwork and administration? If you…
June 13, 2018
Do I have to get an independent valuation of my property every year?
No, you do not need to get an independent property valuation each and every year but it is highly recommended that a recent and relevant one has been obtained in the last 3 years. Your property still must be valued at market value each year by the trustees, which should give reference to any independent…