Well… it’s finally official. The ability to undertake off market transfers of listed shares into SMSFs can continue until 1 July 2013. This Stronger Super recommendation amongst several others has not commenced at 1 July 2012 as expected, with Treasury still working through some significant roadblocks around market manipulation rules contained within the Corporations Act … Continue reading »
Tag Archives: super system review
Exposure draft released on consideration of Insurance, Separation of Assets and Valuation of Assets at Net Market Value for SMSFs
The Super System Review submitted to Government back on 30 June 2010 made several recommendations to improve the operation and regulation of the self managed super fund sector. Many of these recommendations were accepted by Government and formed part of the Stronger Super reforms to take effect from 1 July 2012. We have now seen … Continue reading »
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 »
Greater enforcement to rectify contraventions a key part of the new SMSF landscape
The powers provided to the Australian Taxation Office (ATO) to deal with issues of non-compliance by SMSF trustees has been reasonably inadequate, something that was acknowledged by the Cooper Review Panel as part of the Super System Review. The ATO in many respects had been known to have two options in dealing with trustee contraventions: … Continue reading »
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 / 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 »
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 »
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 »
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 »
Has the fight for the superannuation pie just begun?
With a now re-elected Labor Government (and new Minister), the coming term is expected to see much debate and likely implementation of recommendations covered in both the Australian Tax System Review (Henry Review) and Super System Review (Cooper Review). Whilst the Cooper Review Panel found the SMSF sector to be in ‘good shape’, this view didn’t appear to be … Continue reading »