The SMSF Association was established to help Australians who self manage their super, to educate advisors and strengthen the industry.
As an independent organisation, our goal is to educate and empower people to better understand the issues, demands and regulations needed to make the most of their self managed super funds.
The SMSF Association’s 2022-23 Budget summary: Delivering certainty
SMSF Association Media Note The Federal Budget, the second for 2022 and the first by the Albanese Labour Government, has delivered certainty for the SMSF sector. Key Points Three-year SMSF audits policy cancelled:In the 2018-19 Budget, it was proposed to introduce a three-year audit cycle for SMSFs that met prescribed criteria. It was a controversial
Legacy pensions and rules for non-residents head Budget submission
SMSF Association Media Release The SMSF Association is urging the Federal Government to address two critical issues – legacy pensions and extending the temporary absence rule for non-residents – in its 2022-23 Federal Budget. In its Budget submission, the Association CEO John Maroney says: “We would like to highlight several key measures announced in Budget
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
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
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
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,
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
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
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