SMSF / SMSF Compliance

Help!! I've got excess contributions

The Tax Office has been busy working through more than 30,000 letters sent to individuals about potential excess contributions assessments for the 2007/08 financial year.  The potential impact of excess contributions tax on these individuals makes the taxpayer quite nervous as the tax penalty regime for breaching the contributions caps is horrendous. When the Minister … Continue reading »


Key Messages of Phase Three Submission

It has been a busy last week or so with the SPAA National Conference in Melbourne and also finalising my submission on Phase Three – Structure of the Super System Review (Cooper Review). The conference has provided me with a range of fresh ideas for the website which I will endeavour to share with readers … Continue reading »

SMSF Compliance

How to effectively wind up a SMSF

The growing number of SMSFs always tends to grab the headlines, with nearly 6,000 new registered SMSFs in the September 2009 quarter (31,929 for the financial year to June 2009).  But what about those people who wish to wind up their SMSF?  There are 3,550 wind ups to June 2009, which would have been a … Continue reading »


Trustee views on the future of SMSFs

I have recently conducted a client survey for the submission being made on the “Phase Three – Structure” Issues Paper for the Super System Review (Cooper Review).  I was fortunate enough to obtain a good response rate to get some excellent insights into the views of SMSF trustees.  Many of the questions asked within the … Continue reading »

SMSF / SMSF Strategy

Ageing SMSF members

We are constantly bombarded by the government about how we need to deal with an ageing population.  Intergenerational reports, proposed tax incentives to work longer, changes to qualification ages for Age Pension entitlement all seek to address this ageing issue. But what about ageing issues regarding SMSF trustees? Section 21.3 of the Super System Review … Continue reading »

SMSF / SMSF Strategy

What type of death benefit nomination is right for me?

The preparation of a Death Benefit Nomination (DBN) is one of the most important documents completed by a member of a SMSF. It is a common misconception that a person’s Will covers super benefits held on behalf of the member.  This is simply not correct.  The direction of benefits in the event of death need … Continue reading »