Changes for the 2014 SMSF Annual Return
Professionals / SMSF / SMSF Compliance

Changes for the 2014 SMSF Annual Return

The Australian Taxation Office (ATO) has released the 2014 SMSF Annual Return, which include some important changes for trustees and professionals to note from the previous income year. SMSF Supervisory levy For the first time we will see trustees pay a supervisory levy within the SMSF Annual Return based on the year of operation, rather than in … Continue reading »

FREE ATO WEBINAR – ATO’s compliance approach and treatments for SMSF trustees
Announcements / ATO / Professionals / SMSF / SMSF Compliance / Webinars

FREE ATO WEBINAR – ATO’s compliance approach and treatments for SMSF trustees

The Australian Taxation Office (ATO) will be running a free webinar program over three weeks from 10 to 27 June 2014 for self-managed super fund auditors, tax agents and other superannuation professionals.  These ATO webinars focus on the Regulator’s SMSF compliance approach, as well as the new compliance treatments for SMSF trustees which will come into effect … Continue reading »

Promise (mostly) kept for Super in Federal Budget
Federal Budget / Pensions / Professionals / SMSF / Trustee education

Promise (mostly) kept for Super in Federal Budget

It was a commitment made by both sides of Government in the lead up to the last Federal election that superannuation would no longer be a political ‘football’.  Over many Federal budgets we saw Governments constantly tinkering with taxation rates, contributions levels and more.  The message became loud and clear from industry, working and retired … Continue reading »

What is the biggest challenge in growing your SMSF business?
Professionals / SMSF / Technology

What is the biggest challenge in growing your SMSF business?

It is sometimes the simple questions that get the best response… and the Future of SMSF webinar I held yesterday was a testament to that. In discussing the substantial changes impacting the SMSF industry – from regulatory reforms, technology advancements and a changing dynamic of the SMSF population, I posed a very simple question in our feedback survey: … Continue reading »

Be a part of something big
Announcements / Professionals / SMSF

Be a part of something big

I’m quite passionate about the SMSF industry.  When I started as an accountant more than 17 years ago, I fell into the SMSF industry as a young graduate preparing accounts for excluded funds (pre-ATO days for those that remember).  I had no idea what they were and certainly no inkling of what the industry would look like today.  … Continue reading »

Are you ready for the future of SMSF?
Announcements / Professionals / SMSF / Webinars

Are you ready for the future of SMSF?

Having surpassed some magical milestones throughout 2013 the SMSF industry continues to grow and evolve into a mature sector.  Now having passed 500,000 funds, $500 billion of total assets and over a million SMSF members, it is not only exciting to have been a part of the journey to date, but also where it is … Continue reading »

Related party lenders beware! ATO signals warning on zero interest SMSF loans
Limited Recourse Borrowing Arrangements / Professionals / SMSF / SMSF Compliance

Related party lenders beware! ATO signals warning on zero interest SMSF loans

The interest in the concept of 0% interest loans to undertake a limited recourse borrowing arrangement (LRBA) evolved following the ATO’s initial views on the subject through the now disbanded NTLG Superannuation Technical sub-group.  These views initially expressed alluded to acceptance that a zero or low-interest rate loan through a LRBA did not breach any … Continue reading »

Can a SMSF segregate in pension phase with one bank account?
Pensions / Professionals / SMSF / SMSF Compliance

Can a SMSF segregate in pension phase with one bank account?

As a growing number of SMSF members begin to draw down retirement income streams, one of the important considerations is the decision to segregate specific assets to support the pension or simply remain in a pooled environment and obtain an actuarial tax certificate to support the amount of exempt current pension income (ECPI).  Where a … Continue reading »

SMSF Podcast Show – Episode 11
Limited Recourse Borrowing Arrangements / Podcasts / Professionals / SMSF

SMSF Podcast Show – Episode 11

Limited Recourse Borrowing Arrangements (LRBAs) have certainly been a topical subject within the superannuation industry, with a heightened amount of media coverage and much debate over their suitability for SMSF trustees.  Both the Australian Securities & Investment Commission (ASIC) and Australian Taxation Office (ATO) as Regulators have taken a greater interest in these arrangements over … Continue reading »

Will the new SMSF trustee penalty regime expose professionals?
Professionals / SMSF / SMSF Compliance / Trustee education

Will the new SMSF trustee penalty regime expose professionals?

The Australian Taxation Office’s new SMSF trustee penalty regime has been widely supported across the self-managed super fund industry looking to further improve the integrity of this growing sector.  However, these new directive, education and administrative powers could leave some professionals exposed with certain individual trustees looking to point the finger at their advisers who … Continue reading »