Opinion piece written by John Maroney, CEO, SMSF Association First published in The Financial Review on 6 November 2020. Licensed by Copyright Agency. With COVID-19 having moved the goal posts even more dramatically than the GFC, failure to keep up with the changes will be costly. The COVID-19 pandemic has affected everyone’s lives and SMSF…
The SMSF Association’s 2020-2021 Federal Budget Summary
The Economic Recovery Plan for Australia is all about jobs The 2020-21 Federal Budget is all about jobs, jobs and jobs. COVID-19 has resulted in the most severe global economic crisis since the Great Depression. This Budget provides an additional $98 billion of response and recovery support under the COVID-19 Response Package and the JobMaker Plan.…
Cash proves king for SMSFs in COVID-19 slump
Opinion piece written by John Maroney, CEO, SMSF Association First published in The Sydney Morning Herald on 09 June 2020. Licensed by Copyright Agency. One of the benefits of saving for retirement through a self-managed super fund is that when you need to respond quickly to changing economic or market conditions that could hurt the…
Here’s an end-of-year guide for SMSF trustees
Opinion piece written by John Maroney, CEO, SMSF Association First published in the Financial Review on 21 May 2020. Licensed by Copyright Agency. COVID-19 will make the end of the financial year more complicated than usual for some self-managed superannuation fund trustees. Here are some tips. For self-managed superannuation fund (SMSF) trustees, the end of any financial…
SMSF liquidity lessons learnt from the pandemic
Written by Robin Bowerman, Head of Corporate Affairs at Vanguard/Vice Chair of the SMSF Association Sometimes it is true that you don’t know what you’ve got. Till it’s gone Music aficionados will recognise that line from Joni Mitchell’s 1970s hit Big Yellow Taxi. There will be many lessons we learn from the COVID-19 pandemic and its…
Webinar series: COVID-19 in discussions with the ATO
In this 3-part webinar series, Peter Hogan, Head of Technical, SMSF Association speaks with Steven Keating, Director, SMSF Client Experience – SMSF Segment, from the Australian Taxation Office on the ways the ATO is supporting SMSF trustees during the COVID-19 pandemic, and important measures to be aware of. These important measures include: Temporary early access…
Do’s and don’ts of repositioning your SMSF portfolio
Opinion piece written by John Maroney, CEO, SMSF Association First published in The Financial Review on 23 April 2020. Licensed by Copyright Agency. Given COVID-19 volatility, trustees should be revisiting the objectives they have set for their long-term retirement savings as well as the investments. One of the many benefits of using a self-managed superannuation…
ASIC grants relief enabling affordable and timely advice during COVID-19
Following a decision handed down by ASIC on April 14th 2020, it will be easier for Australians to get assistance from professional accountants and financial advisers in making decisions about their financial position in the face of the COVID-19 pandemic. The Australian Securities and Investments Commission (ASIC) has announced three temporary relief measures to help…
COVID-19 – Providing concessions for the LRBA in my SMSF
The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals. If your SMSF has a related party loan and is impacted due to the financial effects of COVID-19, you may be able to provide your LRBA with relief under an agreed commercial arrangement. Ordinarily, not paying market interest…
Webinar: COVID-19 and your SMSF – Part 2
Presented by Franco Morelli, Policy Manager, SMSF Association This webinar outlines the direct impacts of the latest announcements on SMSFs and key resources that will assist you during this difficult period. This webinar covers further financial effects of COVID-19 on you and your SMSF including: A summary of the latest announcements such as the JobKeeper…