administering and reporting

Written by John Maroney, CEO, SMSF Association First published in Australian Financial Review on 05 March 2020. Licensed by Copyright Agency.  The five ‘trigger’ situations include insufficient funds, declining mental or physical capacity, death, lack of time to oversee a fund and moving overseas indefinitely. The growth in the number of new self-managed superannuation funds (SMSFs)…

Written by John Maroney, CEO, SMSF Association First published in The Australian Financial Review on 28 November 2019.  Licensed by Copyright Agency.  Changed adviser rules could lead to self-managed superannuation funds missing out on valuable advice. Will SMSF trustees have trouble buying or selling shares early next year? With the new Financial Advisers Standards and Ethics…

Written by John Maroney, CEO, SMSF Association First published in The Australian Financial Review on 06 November 2019. Licensed by Copyright Agency.  Software providers to DIY funds say annual operating costs are much lower than the $13,900 cited by ASIC. What does it really cost to run your own self-managed superannuation fund (SMSF)? The Australian…

Written by John Maroney, CEO, SMSF Association First published in The Australian Financial Review on 15 August 2019.  Licensed by Copyright Agency.  Maximising your $1.6 million pension cap may backfire on your beneficiaries.   Strategies to work around the $1.6 million transfer balance cap (TBC) may be useful for those in pension phase trying to maximise their…

Written by John Maroney, CEO, SMSF Association First published in The Australian Financial Review on 29 March 2019. Licensed by Copyright Agency.  The definition of retirement has always been important for superannuation fund members wanting to access their super once they reach preservation age and retire. But after big changes to super on July 1,…

Written by John Maroney, CEO, SMSF Association First published in The Australian Financial Review on 31 January 2019. Licensed by Copyright Agency.  In the final moments of 2018 and early into 2019, the new standard setter for financial advisers – the Financial Adviser Standards and Ethics Authority (FASEA) – issued new educational and ethical standards…

Written by John Maroney, CEO, SMSF Association First published in The Australian Financial Review on 02 January 2019. Licensed by Copyright Agency.  The outcome of two court cases involving self-managed superannuation fund (SMSF) auditors will have long-term consequences for SMSF advisers and trustees. The cases – Cam & Bear Pty Ltd v McGoldrick and Ryan…

Written by John Maroney, CEO, SMSF Association First published in The Australian Financial Review on 12 September 2018.  Licensed by Copyright Agency.  In the 2018 federal budget, the government announced a proposal to allow self-managed superannuation funds (SMSFs) with good record-keeping and compliance records to have an audit once every three years rather than every…