Law & Regulation

smsf diversification strategy ato

SMSF Diversification Strategy – are you on top of your obligations?

Are you questioning your obligations and requirements aligning with your SMSF diversification strategy? The Australian Taxation Office has recently mailed around 17,000 SMSF trustees with a ‘please explain’ letter. The target was a batch of funds that have more than 90% of their assets in a single asset class.

In many uninformed sectors of the media there was a tendency to report the issue in such a way that implied that having a single asset,

Can My SMSF Invest In Gold and Silver Bullion

Can my SMSF invest in gold and silver bullion?

Yes – your SMSF can invest in gold and silver bullion and other precious metals as part of your investment strategy however there are a number of rules that you must comply with. Importantly, an SMSF investment in gold or silver bullion valued entirely on the spot price of the precious metal.

ATO Letter Is your SMSF investment strategy meeting diversification requirements

Is your SMSF investment strategy meeting diversification requirements

The ATO has sent a letter titled ‘Is your SMSF investment strategy meeting diversification requirements’ to 17,700 SMSF trustees highlighting concerns with the lack of diversification and threatening an administrative penalty of $4,200 may be payable if your SMSF fails to meeting the diversification requirements under the relevant superannuation laws.

The Australian Budget 2017 - Summary by Superfund Partners

The Australian Federal Budget 2017: Getting into property and getting out of property, left field bank hit & investment in infrastructure.

The Australian Federal Budget 2017: Getting into property and getting out of property, things from left field & investment in infrastructure.

 

Wow, has this budget got a deal for you!

You always want what you haven’t got.  When you’re young you are thinking about schemes to get your access to your super money to buy a house and when you’re old you’re looking for ways to get it back into super.

Federal Budget 2017: The round-up in less than 2 minutes

Scott Morrison has delivered his second Budget, aimed at boosting growth and the government’s flagging poll rating, declaring there are “better days ahead”. Here is a a quick recap of some of the key announcements that affect the individual.

To find out more, read our “Government delivers stability in 2017-18 Federal Budget”

Government delivers stability in 2017-18 Federal Budget (1)

Government delivers stability in 2017-18 Federal Budget

Stability and confidence for superannuation is the good news coming out of the 2017-18 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes of the last Budget which take effect from 1 July 2017, this Budget’s minimal changes will result in a period for members to ensure they have the correct strategies in place.

concessional contribution cap changes

Concessional contribution cap changes: points to consider

Concessional contributions are those made with pre-tax income and can come in many forms, most commonly as

  • Superannuation Guarantee contributions made by your employer,
  • Salary sacrificed contributions made on your behalf, or
  • Tax-deductible contributions if you are self-employed.

Below, we’ve summarised a few important considerations regarding the cap changes that became law on 29 November 2016.

pension cap superfund partners

Proposed $1.6m pension cap not all bad news

Effective from July 1, 2017, the government intends to place a $1.6 million cap on the amount of superannuation that you can retain in, or transfer to, a super pension account. The government released an exposure draft of the proposed legislation for this measure on 27 September 2016. Final legislation is expected to be passed before the end of 2016.

bank statement requests accountant

Auditors, those bank statements and the administrators…

We all understand that sometimes it’s, well, annoying to be asked for a document you didn’t think you would have to provide. Numero uno… the bank statement request when we already had you sign the data feed authorisation to allow Superfund Partners to download the bank transactions.

 

Superfund Partners - SMSF Administrator SMSF Admin Self Managed Super Fund Admin SMSF Specialist - Federal Budget 2016 Changes to Super

What a Super Budget – Superannuation changes in the Federal Budget 2016

 

Well, I can’t say that this year’s budget was my favourite, which I’m sure is a shared sentiment among a lot of our clients. Whilst I still believe that Superannuation is a great space and retains a high degree of tax advantages, there are some changes on the table that will affect quite a few people.