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.…
March 2, 2023
Government provides clarity on proposed cap on high super balances
Written by Fabian Bussoletti, Technical Manager, SMSF Association Following the Government’s release of the 2022-23 Tax Expenditures and Insights Statement, a media release issued by ministers Jim Chalmers and Stephen Jones on Tuesday heralded the pending arrival of the highly anticipated cap on high superannuation balances. While there are only limited details from which we…
November 3, 2022
SMSF establishment and the first 6 months
Webinar provided by SuperConcepts Establishing and running an SMSF is an important financial decision so, to ensure you’re prepared, tune in to this session hosted by SuperConcepts. Learn more about the basics of SMSFs including fund establishment, structures, investment strategies and accepting contributions and paying benefits. Learn more about how to establish an SMSF on…
October 26, 2022
Artwork in an SMSF
Written by Daniel Shaw, DFK Benjamin King Money, SMSF Specialist Advisor (SSA®) SMSFs have long held artwork as part of the trustee’s investment philosophy. However, legislation introduced in 2011, provides stricter rules for trustees to adhere to, when looking to invest in this asset class. The ATO considers artwork as a collectable and a personal…
September 28, 2022
Why all SMSF members should have an enduring power of attorney
Written by Meg Heffron, Managing Director, Heffron Powers of attorney are vital for all of us with an SMSF – no matter how young, fit and healthy we may feel. A quick re-cap The term “power of attorney” is probably well understood. It involves one person (the donor) giving some important legal powers to someone…
September 13, 2022
Time is running out to apply for a Director Identification Number (director ID)
You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). It is a unique 15-digit identifier that directors apply for once and keep forever. The following provides some useful further information. If, after reading this document, there is anything that you are unsure…
June 3, 2022
Your Yearly SMSF Planner – 2022/23
Revised as at 03 June 2022 Managing your own super has many benefits, but it’s important to have a plan. There are certain aspects you must consider to ensure you are meeting all of your yearly requirements. Step through the year with confidence with your SMSF Yearly Planner, detailing what you need to address each…
June 3, 2022
Your Handy 2022/23 Super Reference Guide
Updated as of 03 June 2022 Gain an overview of the 2022/23 financial year contribution caps, eligibility, glossary of key terms and more with our handy Super Reference Guide. A handy guide to help you step through the new financial year with confidence, the 2022/23 Super Reference Guide is a quick reference to help you…
March 29, 2022
2022-23 Federal Budget Summary – A quiet night for SMSFs
Written by Tracey Scotchbrook, Policy Manager, SMSF Association As expected, the 2022-2023 Federal Budget has a strong emphasis on cost-of-living relief, job growth and women’s security. From an SMSF (and superannuation perspective) this year’s Federal Budget was a quiet one, and saw continued stability for SMSF trustees. The following is a brief summary of the…
February 14, 2022
Academic Paper | Understanding self-managed super fund performance
The SMSF Association engaged the University of Adelaide to examine the financial performance of self-managed super funds (SMSFs) relative to APRA regulated funds. This joint research venture is based on financial statement data from over 318,000 SMSFs for the period 2017 to 2019 – a sample size representing more than 50% of all existing SMSFs.…