Written by Mary Simmons, Technical Manager, SMSF Association With over 1 million Australians having made the decision to take control over their superannuation and set up an SMSF, the Australian Government has recognised the need to find out more about this population. To better understand what motivates you and who influences you, the Government has…
Opinion piece written by John Maroney, CEO, SMSF Association First published in Financial Review on 20 May 2021. Licensed by Copyright agency. The standouts are removing the work test for non-concessional contributions for those aged 67-74 and lowering the eligibility age from 65 to 60 for downsizer contributions. That the budget contained measures specifically designed to…
Written by Name, Title, Company Hindsight is an amazing thing, so let’s use a little and reflect on the past 12 months. At the end of March a year ago, we did not know that it marked the beginning of an unexpected and relatively speedy recovery in financial markets as measured by key indices. At…
Written by John Maroney, CEO, SMSF Association First published in Financial Review on 21 April 2021. Licensed by Copyright Agency. Got art, jewellery or cars in your collection? Watch out for how they’re insured, where you store them and who uses them. The rules around the holding of collectables and personal-use assets owned by self-managed super funds…
Written by John Maroney, CEO, SMSF Association First published in The Sydney Morning Herald on 13 April 2021. Licensed by Copyright Agency. The decision to set up a Self-Managed Super Fund (SMSF) should not be taken lightly. Although it puts SMSF trustees on a journey towards financial self-funding in retirement, it also comes with a…
As the legislation to allow the number of SMSF members to increase from four to six makes its way through The Parliament, now may be the time for SMSF trustees to consider the benefits and any downside to increasing the number of members in their funds. While the number of members in the majority of…
Written by John Maroney, CEO, SMSF Association First published in Australian Financial Review on 26 March 2021. Licensed by Copyright Agency. Most self-managed super fund members and their advisers were coming to grips with the new rules around transfer balance caps. But then along came indexation. When the Transfer Balance Cap (TBC) was introduced on…
The SMSF Association were honoured to be joined by Senator the Hon Jane Hume, Minister for Superannuation, Financial Services, and the Digital Economy earlier this month at their virtual National Conference, the premier event for SMSF professionals and the SMSF sector. In her Special Address to over 1100 delegates, the Minister provided a glowing endorsement…
Written by John Maroney, CEO, SMSF Association First published in Financial Review on 24 February 2021. Licensed by Copyright Agency. Trustees frustrated by excessive paperwork and expensive advice frameworks will be watching two government initiatives with great interest. There is growing momentum for financial services reform that could see the cost of administering a self-managed…
Written by John Maroney, CEO, SMSF Association First published in Financial Review on 23 February 2021. Licensed by Copyright Agency. In the three months to September 30 last year, the number of self managed superannuation funds increased 5,530 as 5,607 people decided they wanted to take direct control of their super. Last financial year tells…