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John Scully Financial Services claims SMSFs are ‘not cost-effective’
Self-managed super funds (SMSFs) are not cost-effective and many are poorly managed, it has been claimed. Principal and director of John Scully Financial Services, John Scully, said that while SMSFs...
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How you can avoid an SMSF tax disaster
The Australian Taxation Office is not your friend. If there’s one thing entrepreneurs hate, it’s a run-in with the tax man. And while the nation’s keeper of the coffers may play nice most of the time,...
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Skeletons in the Cupboards and Tax Man at the Door – Estate Planning...
Here is one solution to a big problem that may become more common with blended families and increased divorce as well as de-facto arrangements. Skeletons in the Cupboards and Tax Man at the Door –...
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SMSFs – Individual v Corporate Trustees
Once you have decided to start a Self Managed Super Fund (SMSF) one of the key decisions you need to make is whether to have an individual or a corporate trustee. In my opinion, there is no decision to...
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The benefits of franking credits in an SMSF – Graeme Colley
The benefit of franking credits in an SMSF cannot be underestimated, especially when the fund is in pension phase, writes Graeme Colley. The introduction of the dividend imputation system in 1987 was...
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How your SMSF can lend money to a business
When anyone mentions loans and do-it-yourself super funds these days, they usually mean self-managed (DIY) super funds borrowing money to make geared investments in property or shares. But...
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Buying property using your SMSF: a few things you should know
here are strict rules governing what money borrowed through an SMSF can be used for. For example, spending borrowed money on repairs and maintenance is ok, but spending borrowed money on anything...
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ASFA supports ATO supervisory levy increase on SMSFs
The Australian Taxation Office (ATO) should be able to raise a levy against self-managed superannuation funds (SMSFs) to recover the costs of its supervision, but it should be required to fully...
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Financial planners struggle to keep up with superannuation changes
With constant regulatory change impacting on the superannuation sector, financial planners are finding it difficult to focus on clients’ retirement needs, writes Bela Moore. ‘Change is the only...
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Strategies to help top earners maximise their retirement income
Many top earners postpone planning until salaries peak in the final decades of their working lives, potentially costing them hundreds of thousands in lost concessions. KEY POINTS For most individuals,...
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new regime for punishing SMSF trustees
Draft legislation designed to give the ATO more flexibility in dealing with breaches of the Superannuation Industry (Supervision) Act or Regulations by SMSF trustees has been released. The changes are...
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Former SMSF adviser faces jail time
A former self-managed superannuation adviser has received an eighteen-month suspended sentence after he took $250,000 from two clients………. Click Here to view article Filed under: In the Media Tagged:...
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Keep your SMSF assets separate from your personal or business assets.
The Australian A PRIMARY tenet of the super laws is that you have to keep your super fund assets separate from your personal or business assets. We can add to this the requirement for super fund...
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How borrowing can grow your SMSF savings
Younger self-managed superannuation investors are particularly interested in using leverage to buy real estate assets – that is, using the fund’s assets to borrow to invest in property – to increase...
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How to self-insure in your SMSF
As self-managed (DIY) super strategies go, self-insurance is a topic that attracts more talk than action. While it is possible for a DIY fund to finance life and disability insurance for its members by...
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SMSFs estimated to hit $500bn by financial years’ end
Self-managed super fund (SMSF) assets will exceed $500 billion by the end of this financial year, according to research from Deloitte Actuaries and Consultants. Deloitte superannuation lead partner...
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Should you top up your super?
Sufficiency It’s mandatory to save 9 per cent of wages into superannuation and, from July 1, that proportion will rise to 9.25 per cent. From July 2019, the compulsory contribution will rise to 12 per...
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ATO’s SMSF Compliance Program for 2013
Every year, via its Compliance program, the Australian Taxation Office (ATO) tells us what it will focus on to ensure we’re all satisfying our tax obligations. In many cases, the ATO’s attention zooms...
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Tax office braced for 1000 SMSF applications a week
The Australian Taxation Office expects more than 1000 applications a week to be lodged for self-managed superannuation funds in May and June this year, taking the total to more than 500,000. Speaking...
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SMSF Trustee Empowerment Day – Melbourne, Brisbane and Sydney
An Investment Strategy and Technical Information day is being held for SMSF Trustees in Melbourne, Brisbane and Sydney. As the government prepares for this year’s federal election, speculation is...
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