Media Releases

Specialist training critical to ensure health of SMSF sector

SMSF Association Media Release The SMSF Association is urging the Quality of Advice Review to “set in stone” the need for specialist training for those advising the more than 1.1 million Australians who are members of a self-managed super fund (SMSF). In its detailed submission to the Review, the Association recommends that professionals providing SMSF…

Media Releases

SMSF Association congratulates new Ministers

SMSF Association Media Release The SMSF Association is looking forward to a constructive relationship with the incoming Labor Government and is hopeful that two of the outstanding measures from the 2021 Federal Budget – changes to residency rules and legacy pensions – will be legislated. SMSF Association CEO John Maroney says: “We congratulate the Federal…

Media Releases

SMSF Association collaborates on improving rollover standards

SMSF Association Media Release When requesting rollovers from APRA regulated funds, be prepared to provide further SMSF bank account documentation, was a key message delivered by the SMSF Association’s Deputy CEO/Director of Policy & Education, Peter Burgess. The SuperStream rollover standards for SMSFs, which commenced in October 2021, were designed to improve the efficiency and…

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Technological change will benefit SMSF trustees, but caution needed

SMSF Association Media Release The SMSF sector will benefit from technology advances, but it will be evolutionary, not revolutionary, SMSF Association CEO John Maroney told the Thought Leadership Breakfast that kick started the Association’s 2022 National Conference at the Adelaide Convention Centre today. “We have seen the advances that technology have delivered to the SMSF,…

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Extension of temporary cut in pension drawdown rates welcomed

SMSF Association Media Release The Federal Government’s decision to extend the temporary reduction in superannuation pension drawdown rates has been welcomed by the SMSF Association. Announced as part of a 2022-23 Federal Budget that saw few changes to the superannuation system, SMSF Association CEO John Maroney says: “The temporary reduction in the minimum drawdown rates…

Media Releases

SMSF Association opposes cap on super balances

SMSF Association Media Release The SMSF Association remains opposed to a cap on superannuation balances. SMSF Association CEO John Maroney says: “We do not and have never supported such a cap. “These balances are a legacy issue with the 2017 changes putting clear limits on contributions to superannuation funds and on amounts that can be…

Media Releases

Changes to performance calculations cautiously welcomed

SMSF Association Media Release The SMSF Association welcomes adjustments made by the Australian Tax Office (ATO) to align their SMSF performance calculations more closely with the methodology used by the Australian Prudential Regulation Authority (APRA) to calculate returns for APRA-regulated funds. Association CEO John Maroney says: “All else being equal, it has been widely acknowledged…

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SMSFs’ investment returns competitive with APRA funds at $200,000

SMSF Association Media Release The investment performance of a typical self-managed super fund (SMSF) improves as the fund balance approaches $200,000. Once this threshold is reached the fund achieves comparable investment returns with APRA regulated funds, according to comprehensive research released today by the University of Adelaide’s International Centre for Financial Services (ICFS). In its…

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SMSF Association calls for simplification of Transfer Balance Caps

SMSF Association Media Release The SMSF Association has called for the Transfer Balance Caps (TBCs) to be simplified in its 2022-23 Federal Budget submission to the Federal Treasury. In its wide-ranging submission on the Budget set to be handed down on 29 March, the Association has placed simplification of TBCs at the top of its…

Media Releases

COVID-19 relief for SMSFs may require specialist input

SMSF Association Media Release The various relief measures implemented by the Federal Government in the wake of the COVID-19 pandemic and extended into the 2021-22 financial year have highlighted the need for SMSF specialist advice, says SMSF Association CEO John Maroney. “Managing an SMSF can be complex at the best of times, particularly for those…