Blog Posts
Limited Recourse Borrowing to again become a financial product
As we move closer to the implementation of industry reforms regarding the provision of financial advice, Treasury last week has added to the pile with the re-issuing of draft Corporations Amendment Regulations to provide that limited recourse borrowing arrangements as allowed under superannuation law are financial products. These reforms were previously announced back in March [...]
SPAA conference challenges all professionals to consider the future direction of SMSFs
A record number of professionals (1,185) attended the SMSF Professional’s Association of Australia (SPAA) National Conference, arguably Australia’s leading superannuation and financial services conference. Recognised for the quality of its speakers and technical content, this year it was the discussion and focus on the future direction of the SMSF industry and behaviour of trustees that provided [...]
SMSF Quarterly Wrap – 2 CPD points for $99?
After a successful live webinar last week with the SMSF Quarterly Wrap, I am pleased to announce the release of this webinar on our new self-paced training platform, which includes a CPD quiz to test your knowledge from the session to gain either SPAA or FPA CPD points. http://thesmsfacademy.com.au/webinars/ Topics within this webinar include: * [...]
FOFA to deliver a new world of SMSF advice
Depending on who you are listening to and what financial services news you read each day, you can easily get confused whether the Future of Financial Advice (FOFA) reforms are going to decrease or increase the number of financial advisers. Whilst we may see the exit of many advisers who will find it simply too [...]
SMSF Quarterly Wrap webinar
The 2012 year is going to be a significant one for the SMSF industry, so it is important that you keep up-to-date with the latest issues, news, and changes impacting self managed super funds. The SMSF Academy is pleased to announce the first webinar for 2012, the SMSF Quarterly Wrap. This is a new addition [...]
Younger SMSF entrants are in for the long haul
There’s been a lot of media in recent times about the growth in younger entrants to the Self Managed Super Fund market. Much of this discussion has come from the recently updated SMSF statistical summary published by the Australian Taxation Office. Is this simply a ‘spike’ in the statistics or is it a genuine trend in [...]
Can you be remunerated as a Fund Trustee?
One of the conditions of meeting the definition of a Self Managed Super Fund is that trustees cannot be remunerated for their services. There is a need however to distinguish between services that may be provided as a trustee for which no remuneration can be provided, against services provided by an individual but not in their capacity [...]
Changes to definition of a SMSF
Changes to definition of a SMSF It is regularly acknowledged that a Corporate Trustee is a far superior trustee structure rather than individual trustees. There has however been an anomaly with the definition of a SMSF within section 17A of the SIS Act that ultimately required a SMSF with members under 18 (i.e. child) to have [...]
12 things NOT to do with your SMSF
The ability to take control of your retirement savings is a key driver in the continued growth of SMSFs. However, being a trustee comes with responsibility to ensure that your fund meets strict regulatory and compliance obligations. Failure to meet these can result in significant penalties, along with the potential loss of the fund’s complying [...]
Twelve SMSF Resolutions for 2012
A Happy New Year to all my readers. The New Year provides us with time to think about and assess goals for the coming year. Whether we actually achieve them or not, well that’s a whole different matter… I have provide below 12 resolutions that you may with to consider in either setting up or [...]
Reflecting on SMSFs in 2011
As the 2011 year comes to a close, it’s a time to ponder where the SMSF industry has come from in the last 12 months and also where it is heading… This time last year, we had just seen the Government’s response to the Cooper Review, with many of these reforms now only 6 months [...]
A Christmas Message from Aaron Dunn
I would like to take this opportunity to wish all my followers and readers a Merry Christmas and Happy New Year. I look forward to providing you with more of my views and strategies on Self Managed Super Funds in 2012.
Excess Contributions Tax a key focus for ATO prosecution
I was interested to read on the ATO’s website this week an updated Superannuation Prosecution Strategy in relation to issues and risks attached with superannuation and taxation law. The strategies available to the ATO to address non-compliant behaviour of taxpayers may be: administrative (for example, conducting an audit, raising a default assessment, imposing a penalty, [...]
How does a SMSF limited recourse borrowing arrangement work?
This short video explains how a SMSF limited recourse borrowing arrangement works in accordance with section 67A of the Superannuation Industry (Supervision) Act 1993. This is the first of many short videos that I will start producing on various SMSF topics and strategies can be used. Let me know what you think by rating the [...]
