Latest SMSF statistical report highlights growth but also the need to greater reform

As we progress (albeit slowly) towards industry reforms with the superannuation sector, it is somewhat timely that the Australian Taxation Office has released their latest statistical overview of the SMSF industry, providing details of the 2009-10 financial year.  This statistical report now in its third year of data was first published as part of the Super … Continue reading »

ATO / Professionals / SMSF / SMSF Compliance / Statistics

New ATO Statistical Overview released… good for the industry, but more to be done

As previously announced over a month ago on thedunnthing blog, the Australian Taxation Office has yesterday released an updated statistical overview into Self Managed Super Funds for the 2008-09 financial year. This report is an update to the Statistical Summary prepared on the request of Jeremy Cooper, Chair of the Super System Review.  He used … Continue reading »

Contributions / Opinion / Professionals / SMSF / SMSF Strategy / Trustee education

Government's Stronger Super response creates unfair advantage with off market share transfers

It is just over two years since the Super System Review chaired by Jeremy Cooper got underway. Yesterday (21 September 2011), after lengthy consultation with the Stronger Super Peak Group, the Government via Minister Bill Shorten have made decisions on key aspects of the Stronger Super reforms. Self Managed Super Funds were one part of … Continue reading »

Investments / SMSF / SMSF Compliance / Trustee education

Are we making a mountain out of a SMSF collectables mole hill?

There has been a significant amount of discussion and debate in recent times about the draft regulations introduced for collectable investments within SMSFs to take effect from 1 July 2011. In more recent times, I have been reading about the concerns of increased costs as a result of changes to collectables being held within SMSFs.  … Continue reading »

Opinion / Professionals / SMSF / SMSF Compliance

Confusion to reign supreme as consultation paper released into extension of contribution caps for individuals aged 50 and over

The Minister for Financial Services & Superannuation, the Hon. Mr Bill Shorten has announced today the release of a Treasury consultation paper on concessional contributions caps for individuals aged 50 and over.  This paper is a result of the Fairer Super announcements in mid-2010 to extend the $50,000 transitional concessional contribution limit for those aged … Continue reading »

Opinion / Professionals / SMSF / Technology

Are we under-utilising technology within the SMSF industry?

The 2011 financial year is already becoming one of the most important year’s to shape the future of the superannuation and financial services industries.  SMSFs are a big part of this transformation, even though it was stated by the chair of the Super System Panel, Mr. Jeremy Cooper that the SMSF industry is in “pretty … Continue reading »

Announcements / Professionals / Trustee education

Stronger Super: The impact for SMSFs – webinar now uploaded

I have now uploaded the webinar recording of this afternoon’s special session on the impact of the Stronger Super reforms. These reforms announced by the government last week were in response to the Cooper Review (Super System Review) recommendations submitted to government on 30 June 2010. Click here to watch this webinar, or alternatively download … Continue reading »

Announcements / Professionals / SMSF / Trustee education

Cooper Super now Stronger Super – the impact for SMSFs

Santa, or should I say Minister Bill Shorten has delivered a Christmas gift a little early this year with the Government’s response to the Super System Review (Cooper Review). The government’s response, known as “Stronger Super” has provided support, or in-principle support for 139 out of 177 of the Review’s recommendations. Much of the mainstream … Continue reading »

Announcements / SMSF

Special Webinar Event: The impact of "Stronger Super" for SMSFs

Today saw the announcement by the Assistant Treasurer and Minister for Financial Services and Superannuation, Mr Bill Shorten of the Government’s response to the Super System Review (Cooper Review) recommendations, which include self-managed super funds. These “Stronger Super” reforms aim to address 139 of the 177 recommendations regarding the operation, efficiency, structure and operation of Australia’s Superannuation … Continue reading »

Professionals / SMSF / Trustee education

Reflecting on the year that was 2010…

Tis’ the season to reflect on what has been a big year for self-managed super funds and the financial services industry as a whole. The year started with a bang, with Phase Three of the Super System Review on Structure including Self Managed Super Funds.  This phase of the review was arguably the most debated … Continue reading »