Monthly Archives: September 2014

Tougher times ahead for self-managed funds?

When the global financial crisis savaged retirement savings in 2008, many self-managed super funds escaped the devastation better than other super funds.

What’s behind this better performance?

There’s nothing inherently better about DIY funds – but a likely reason was their asset allocation strategy.

ATO launches trustee educational videos

The ATO has recently launched a series of education videos for existing and potential SMSF trustees. The topics covered include areas such as administrative requirements, paying a pension, choice of trustee and the sole purpose test.

15 things for SMSF trustees to consider before 30 June 2014

With 30 June hitting on Monday, there are a plethora of  things that you as a trustee of your SMSF should consider to squeeze the maximum possible benefit from your SMSF.  Here are just 15 things to consider before the year is up:

1. Valuation of your SMSF’s assets

It is a requirement under the superannuation law that the assets in your SMSF be valued each financial year.  

ASIC fee increases from 1 July 2014

Each year ASIC increases its company lodgement fees and has just released their updated fees for commonly lodged documents that will apply from 1 July 2014.
The ASIC fee increases include:

New ATO Penalty Regime from 1 July 2014

The ATO has introduced new penalty powers which it can impose on you if your fund breaks certain superannuation rules.

The new rules apply from 1 July 2014 and allow the ATO to fine you and require you to rectify the mistake that has been made. 

Binding Death Benefit Nominations – more than just filling in a form

Estate Planning is a crucial component to the management of your superannuation assets. In light of this, attention to Binding Death Benefit Nominations (BDBNs) should surpass ‘just filling in a form’.

Like a Will for your assets outside of super, a BDBN is a formal declaration by a member indicating in,

End of financial year action list

In just over four weeks will be in a new financial year.  Understanding what you could do before and after 30 June 2014 can provide the icing on the cake for employees, investors and those in small business.  Such things as bringing forward tax deductions or delaying the receipt of income within the rules can mean less tax this year. 

2014/15 Budget Summary

2014 Budget Summary

Superfund Partners Director and wordsmith Mark Beveridge has distilled the government spin doctoring down into a few pages of need to know information.  It doesn’t cover every dollar saved or spent, but it will help answer your most common questions.


The government claim is that it will collect less in tax than would have been the case if Labor was re-elected.

Nil interest related party loan rulings

There has been a flurry ATO activity recently – with the latest target being the release of details of a private binding ruling around the provision of nil interest loan to an SMSF by a related party.

Since 2007 SMSFs have been allowed to borrow to purchase assets using instalment warrant or limited recourse borrowing arrangements.  

Changes to Centrelink treatment of SMSF pensions

Starting on 1 January 2015 Centrelink will apply a different income assessment to account based pensions (sometimes also called allocated pensions). Previously the income counted for the Centrelink income test was calculated by the formula ‘Purchase Price/Life Expectancy = annual exempt income’. So an account based pension of $300,000,