If you enjoy running around from bank to bank hunting for the best term deposit rates, filling out a multitude of application forms and completing repetitive 100 point identification checks for your SMSF then stop reading.
However, if you want a solution where you can complete a single application form which gives you access to more than 25 banks, building societies and credit unions with competitive interest rates including daily specials – then read on!
We are pleased to announce that all of the major banks (Westpac, ANZ, CBA and NAB) now provide daily transactions information directly into our specialist SMSF accounting software. The new direct service replaces the previous monthly supply of transaction information we received via and intermediary.
Superfund Partners is always looking at ways to remove the hard work out of running a SMSF. That is why we have developed a new system to enable us to receive share trading information from an additional 24 brokers.
Together with the 12 existing brokers that already provide daily share trading transaction information, Superfund Partners now receives trading information from more sources than any other SMSF administrator.
Effective from the 1st of February 2012, the Australian Government guarantee on deposits reduces from $1 million to $250,000 per customer per institution. This will have a large impact on a number of SMSF trustees who have been holding a large portion of their portfolios in cash and term deposits in the face of continued market volatility over the last few years.
For many of our clients, the 2011 year will be the first year we have completed your annual SMSF accounts. At Superfund Partners, we often do things a little different compared to your typical end of year style accountant. With that in mind, we would like to answer some common questions about the completion of your 2011 SMSF accounts.
The ATO has released a draft ruling which empowers self managed super fund trustees to renovate and improve properties purchased under limited recourse borrowing arrangements.
Prior to the ruling being released, it was not feasible for a SMSF to improve, enhance or renovate property acquired where a limited recourse loan was used – regardless of the source of monies for the modifications.