Written by Franco Morelli, Policy Advisor, SMSF Association Running a self managed superannuation fund (SMSF) can be hard, but running a family is even harder. So why would anyone want to mix the two? When discussing SMSFs and children the narrative always suggests that it isn’t a very good idea, especially with the issue of…
This document contains complex SMSF technical information and is aimed at individuals who have a comprehensive understanding of transfer balance caps. We highly recommend that you gain the advice of an SMSF Specialist in order to assist you in monitoring the transfer balance cap within your fund. To find your nearest SMSF Specialist, use our…
With the new super rules that began on 1 July 2017, your requirement to report information about your SMSF and the pensions it pays you and other fund members may be changing. This is driven by the introduction of the new $1.6 million transfer balance cap which limits the amount of assets you can use…
SMSFs provides you with additional control over your estate plans as compared to typical retail, industry and employer funds. This can be achieved in several ways. The common thread to each of the options is that it is the rules of the particular SMSF, set out in clauses of the trust deed and related documents…
This Insight Paper summarises the impact of the introduction of the transfer balance cap regime on SMSF pension strategies from 1 July 2017 In particular, a distinction is drawn between segregation of assets to calculate exempt current pension income for taxation purposes and segregation of assets undertaken by SMSF members for other purposes. The transfer…
The latest changes to the superannuation system, which took effect on 1 July 2017, and their effects on self managed super funds have been well documented. One area that hasn’t been as well publicised is what happens to your money upon death, with changes to death benefits potentially having the biggest impact of all the…
Content provided by……….. Written by Name, Title, Company A key reason for many individuals choosing an SMSF over other superannuation funds is to have control over their fund’s investments. However, you must balance this freedom of choice with your responsibilities as trustee to ensure that you invest within your SMSF in a manner that is…
Despite the incoming superannuation changes coming into effect at the end of next month, it is important to keep sight of your ongoing and current obligations and preparations for the financial year end. Investment Strategy review As a trustee you are required to review your investment strategy regularly to ensure it continues to reflect the…
The legislation does not expressly state what types of investments an SMSF can invest in, although there are some regulatory limitations. Two of the main rules are the ‘sole purpose test’ and investments being ‘arm’s length’. The sole purpose test holds that all investments must be maintained for the sole purpose of providing retirement benefits to members…
Recognising the different phases of your life and adjusting your retirement strategy to adapt to those changes is important to the success of your long-term planning. This is the case whether you are setting up your SMSF, accumulating wealth, paying an income stream or winding up your fund. So, what are some of the issues…