How cheap advice can cost SMSF trustees big dollars

The following story from Superfund Partners director and SMSF specialist Mark Beveridge is unfortunately all too common.  He has been contacted by someone who tried to save a few hundred dollars a year,  but it ending up costing this guy more.  A lot more.  $108,000 more in fact.

ATO letter re SuperStream

You may have received a letter from the ATO entitled “Changes to how your SMSF receives employer contributions”.  We have a solution regarding what you need to do.

When SMSF estate planning goes wrong – a case study

A recent West Australian case (Ioppolo & Hesford V Conti 2013 WASC 389 has highlighted the importance of having a valid SMSF estate plan to ensure benefits held in an SMSF go to the intended beneficiaries. 

SMSFs under attack – setting the record straight

Self managed super funds have been under attack lately from a number of angles.

In this article Superfund Partners director Mark Beveridge looks beyond the headlines at the real issues.

QSuper members can now rollover to their SMSF

Can you move from QSuper?
Due to recent legislation changes, all Queensland Government employees with a QSuper Accumulation Superannuation Fund can transfer the majority of their existing member benefit from QSuper to another complying Superannuation Fund – including a SMSF.

Why corporate trustees are better for SMSFs

I cannot recall setting up an SMSF in the last couple of years without a corporate trustee. However, historically many SMSFs have been established with individuals as trustees. While this is allowable under the SMSF rules, the majority of superannuation professionals would agree that a corporate trustee is the most preferred trustee for an SMSF.

Changes to how your SMSF must receive employer contributions from 1 July 2014

As part of the Government’s goal to improve the efficiency of the superannuation system and the timeliness of processing rollovers and contributions, the way in which SMSFs can receive rollovers and contributions will change from 1 July 2014.  A new standard is being introduced which basically requires all contributions and rollovers to be paid electronically,

Changing your SMSF trustee from individuals to a special purpose company

There are a number of reasons why you should make the decision to appoint a special purpose company as a trustee of your SMSF, but what exactly needs to happen?

There are two main areas that need to be addressed as part of the change:


Coming to terms with term deposits

As an investor, you need to ensure that you are seeking advice on safe income-producing investments, even if it is just a relatively small portion of your portfolio to boost your overall returns.

The following article examines the safe investment options that you can embark on in a troubled marketplace.

Important insurance changes impacting all SMSFs

As a trustee of your SMSF, you now have to review your investment strategy following recent amendments to SMSF requirements in the Superannuation Industry (Supervision) Regulations.

We previously reported on this change back when it was announced in August 2012.