SMSF sector loses valued servant with Peter Hogan retiring

06 July 2020 SMSF Association Media Release Peter Hogan, Head of Technical for the SMSF Association and a highly respected and revered SMSF specialist, is retiring after four years in the role, effective 30 September. A lawyer by training, Hogan started his career at the Australian Taxation Office (ATO) before working for some of Australia’s…

ATO figures throw fresh light on SMSF operating expenses

22 June 2020 SMSF Association Media Release The ATO’s 2017-18 Statistical Overview of SMSFs shows the median “operating expense” of SMSFs is $3,923 a year, a more appropriate indication of their basic operating cost compared with the $13,900 total average expense figure highlighted in a recent SMSF Fact Sheet. SMSF Association CEO John Maroney says:…

SMSF trustees need to be alert to new work test, spouse contributions

02 June 2020 SMSF Association Media Release The Government’s commitment to increase the age when the work test starts to apply from 65 to 67 and the age limit for spouse contributions from 69 to 74 before 1 July 2020 has the full backing of the SMSF Association. The amendments to the SIS Regulations give…

SMSF Association appoints Peter Burgess to Exec Role

06 May 2020 SMSF Association Media Release The SMSF Association is pleased to announce it has appointed Peter Burgess as Deputy CEO and Director of Policy and Education, effective from 1 June 2020. Burgess worked at the Association as Technical Director for three years before joining the SMSF administrator SuperConcepts in 2013 as General Manager, Technical…

SMSF 2018-19 annual returns deferred to 30 June

22 April 2020  SMSF Association Media Release The Australian Tax Office’s announcement today allowing an automatic deferral of SMSF lodgments to 30 June is further evidence of its flexible approach to issues during the COVID-19 (coronavirus) crisis and must be applauded, says SMSF Association CEO John Maroney. “In these very difficult times, we have been…

Early access to super COVID-19 measure: Joint bodies ensure Australians can easily access professional advice

14 April 2020  SMSF Association Media Release (Joint Media Release with CPA Australia, Chartered Accountants Australia and New Zealand (CA ANZ), Financial Planning Association (FPA) and Institute of Public Accountants (IPA)) Five major Australian professional bodies – CPA Australia, Chartered Accountants Australia and New Zealand (CA ANZ), SMSF Association (SMSFA), Financial Planning Association (FPA) and…

Salary relief throws lifeline to small businesses

31 March 2020  SMSF Association Media Release The Federal Government’s $130 billion JobKeeper payment announced yesterday, when coupled with earlier measures in response to the economic fallout from COVID-19 (coronavirus), will provide vital support to small business owners, many of whom have self-managed super funds (SMSFs). The SMSF Association CEO John Maroney says: “The $130…

SMSF Association endorses Government’s latest stimulus package

22 March 2020  SMSF Association Media Release The SMSF Association supports the Federal Government’s latest stimulus package announced today, particularly those measures that will assist self-managed super fund trustees cope with the economic and social upheaval caused by COVID-19 (Coronavirus). SMSF Association CEO John Maroney says: “The country is in unchartered waters, so we fully…

Coronavirus, rate cut, ATO guide highlight need for specialist advice

04 March 2020  SMSF Association Media Release The economic and market fallout from concerns about the global coronavirus outbreak, the RBA rate cut and recent ATO investment strategy guidance sends a stark message to self-managed super fund (SMSF) trustees about the need for specialist advice. SMSF Association CEO John Maroney says: “When global investment markets…

Proposal to enhance flexibility for super payments endorsed

10 March 2020 SMSF Association Media Release The Government’s decision to draft laws to assist Australians aged 65 and over to boost their retirement savings has the full support of the SMSF Association. The proposed legislation, which will amend the Superannuation Industry (Supervision) Regulations 1994, will allow people aged 65 and 66 to make voluntary…