diy super

The SMSF sector is growing by $23,200 every minute

The latest statistical report from APRA has been released (here’s a link to download it), which of course mainly focuses on the APRA-regulated superannuation funds in the retail and industry sectors. But the APRA statistics also make passing mention of ATO-regulated funds, the SMSF sector, which from June 2018 to June 2019 grew in total

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SMSF advisers: Be sure you avoid this new year’s day hangover

  A deadline that many SMSF professionals may have lost sight of is fast approaching — 1 January 2019. This is when new educational requirements for SMSF advisers start, and the Financial Adviser Standards and Ethics Authority (FASEA) takes over setting the educational and ethical requirements to be a financial adviser. Other important dates to

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Forced unwinding of your LRBA? Best to have a contingency plan

  Limited recourse borrowing arrangements (LRBAs) were once all the rage in SMSF land. However, with the tightening of banking rules this frenzy has begun to abate somewhat over the last few years. LRBAs are great in a growing market as they allow an SMSF to grow the value of assets it holds in the

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NALI concerns allayed for practitioners who DIY super

  The same piece of legislation that introduced a 12-month SG amnesty also clears up one small area of concern for accountants and other practitioners who are also members/trustees of their own SMSF. The legislation, Treasury Laws Amendment (2018 Superannuation Measures No 1) Bill 2018 (read it here) covers the amnesty but also deals with

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More SIS compliance headaches on the way for SMSFs

  Trustees of SMSFs may be soon required to add the creation of a “retirement income strategy” alongside existing compliance requirements centring on investment and insurance. This would similarly require review on a regular basis. The covenants of investment and insurance strategies exist in the Superannuation Industry (Supervision) Act 1993 (SIS), with an additional retirement

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Can an SMSF invest in property development?

The ATO has been sending some mixed messages about property development involving an SMSF, and has indicated that it is one of the issues on its radar for 2018. So is property development an allowable investment for an SMSF? The short answer yes, but be careful. A longer answer is be very careful — it

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Events based reporting: What does it mean for SMSF trustees?

The first signs of disquiet in the SMSF sector started not too far into the current income year when confirmation signs started to emerge that the ATO, for the purpose of the then recently introduced transfer balance cap, would soon require SMSF trustees to report certain events on a real-time basis. It is understood that

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SMSF trustees need to stay alert to survive

Another example of the reason SMSF trustees need to stay alert to survive and must constantly stay on top of developments occurring in the self managed super fund field surfaced earlier this month. The ATO went public with information that SMSF trustees in particular could be targeted by promoters of retirement planning arrangements that —

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Super changes you need to be prepared for

The government has released exposure draft regulations aimed to complement the recently enacted reforms Superannuation reform package – regulations. The submissions are open until February 10. Super changes you need to be prepared for  Super changes you need to be prepared for prepared for for The exposure drafts also include regulations in respect of the

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What type of SMSF trustee are you?

As your professional life progresses, you will undoubtedly be asked to undertake a personality inventory to apply the theory of psychological types to team environments. One of the most common of these is the Myer-Briggs Type Indicator. A similar inventory has been applied to SMSF trustees with two studies undertaken by independent research group CoreData.

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