Since self-managed super funds came into existence accountants have been the number one source of advice when it comes to their set-up up and operation. However the actual advice accountants have legally been allowed to give SMSF trustees has always been very limited, and from 1 July 2016 will get even tighter.
“If you don’t have international shares you are missing out on 98% of the world’s equity opportunities!”
So goes the catch-cry of international share fund managers.
Popular media often scolds trustees of SMSF’s for being too domestically focused and missing out on the opportunities that are available in international shares.
Superfund Partners is relocating our Broadbeach office from the 31st of August 2015 to 10 Short Street Southport.
Why the move?
Superfund Partners started with two desks back in 2010 and due to strong growth and the merger with My Super Advisor we moved to our current stand-alone Broadbeach office in 2013.
We always recommend our clients use a special purpose trustee company for their SMSF. Once the trustee company is set up, the ongoing maintenance to look after it is relatively simple, but very costly if you get it wrong as the Australian Securities & Investments Commission (ASIC) can levy hard penalties that are difficult –
It seems as if the moment of reckoning may have arrived for Greece. Global news outlets are airing footage of long lines outside of Greek banks over the weekend before the government announced a bank holiday and capital controls.
That it has come to this is not a surprise.
I recently came across a great article in AFR Smart Investor magazine by Steven Enticott entitled “Where you can’t skimp on your SMSF” which not only outlines the value of working with qualified and experienced SMSF specialist accountants and advisers, but asks five really good questions that you should ask before selecting an SMSF administration provider.
With 30 June just over two weeks away, now is the time to run through a checklist of what you need to do prior to the end of the financial year.
Although we always endeavour to personally contact every single one of our clients this time of year,
Australians love property and our high level of (expensive) property ownership is one of the reasons we are ranked as one of the wealthiest countries in the world. Not only do we desire our own block of paradise, we also love to invest in property with 1.9 million individuals declaring rental income (or more likely a rental loss) in their annual tax returns.
Utilising a unit trust structure to provide multiple investors with ‘shares’ in an underlying property is not new.