Category: Blog
Who Can Set Up a SMSF?
A SMSF is a self managed super fund that must comply with conditions set out by the SIS Act. The key conditions are: There can be up to four members Each appointed trustee must be a member If a corporate trustee is appointed, each director of that company must be a member Members canno..Read More
How to Set Up a SMSF
Once the decision is made to set up a SMSF, there are steps that must be followed to get it established. There are five key steps to establishing a SMSF. Each step should be accomplished in order to move onto the next and ultimately have a compliant SMSF that reaps benefits. Step 1: Establish the..Read More
What is a Self Managed Super Fund in Australia?
A self managed super fund, also known as a SMSF, is an Australian superannuation fund that allows its members to manage and ultimately gain funds once they have retired. Superannuation funds have been in existence for many years, but in more recent years, the Australian SMSF has seen tremendous pop..Read More
Is a SMSF Right for You?
While do-it-yourself types of superannuation have been available for many years, SMSFs really have come into their own over the last few years. As far as the asset value and the number of SMSFs goes, it is apparent that the SMSF sector has a much larger presence among supers. According to asset valu..Read More
What is a SMSF?
A SMSF is a self managed super fund. As the name suggests, it is a kind of do-it-yourself retirement plan where you, as a member, have complete control over how your funds are managed. While it is a popular way for you to save funds for your retirement, a SMSF does come with administrative duties an..Read More
2018-19 Federal Budget Measures- SMSF
The major changes in regards to SMSFs are listed as below: Preventing inadvertent concessional contribution cap breaches: from 1 July 2018, the Government will allow individuals whose income exceeds $263,157 and who have multiple employers to nominate that their wages from certain employers ar..Read More
Downsizing contributions
From 1 July 2018, you can contribute up to $300,000 from the proceeds of selling your home to your SMSF. You only can make downsizing contributions once off only. Your downsizer contribution will not be affected by the total superannuation balance test or count towards your contributions caps ..Read More
ATO to focus on SMSFs
ATO will focus on the following SMSF compliance issues: all SMSFs must ensure that assets in their fund are appropriately valued with relevant valuations supported by objective evidence and data in the coming months, SMSFs should establish whether their members are affected by the new tran..Read More
Guidance for SMSFs about transitional Capital Gains Tax (CGT) relief
ATO has published Guidance for SMSFs about transitional Capital Gains Tax (CGT) relief. You should read this information for: detail about eligibility for the relief detail about how the CGT relief provisions operate, including how they apply to an SMSF paying a transition-to-retirement ..Read More
SMSF statistics
The ATO has published September 2017 quarterly self-managed super fund (SMSF) statistical report. Some of the statistical highlights from this quarter's overview include: total number of SMSFs has increased to 598,620 total members of SMSFs is 1,130,721 total value of estimated SMSF a..Read More