SMSF Tech

Review of SMSF advice rules needed

The tightening up of regulations covering financial advice has made it hard for trustees of self-managed super funds to get basic advice about their SMSFs. The SMSF Association has called for a review of the regulatory structure of SMSF advice…

Carry forward rule kicks in

Since the start of the financial year, super fund members have been able to use new unused concessional cap carry forward rules to increase their contributions. The five-year carry forward period started on 1 July 2018, so the 2019/20 year…

Estate planning 101

When Peter Dawson died in 2015 he left an SMSF with a balance of $1.4 million, an ex-wife who was also a member of the fund and children from other marriages. He did not make a binding death benefit nomination.…

Single-asset SMSFs on notice

The Australian Taxation Office will contact more that 17,000 self-managed super fund trustees and their auditors, where the SMSF is holding 90 per cent or more of its funds in one asset or a single asset class. The ATO says…

SMSF asset allocation shifts to international funds

The investment portfolios of self-managed super funds have shifted slightly away from listed shares and cash over the past year and taken on more managed investments. The latest Class SMSF Benchmark Report, covering the June quarter, shows that the listed…

SMSFs can’t be used as a backstop for disaster recovery

A couple has lost an appeal against disqualification from running their SMSF, which called on the Administrative Appeals Tribunal to rule on what constitutes “severe financial hardship”. Louise Fitzmaurice and her husband Antony Bullock are members of a self-managed fund,…

SMSFs trustees must act quickly on death benefits

The Australian Taxation Office has issued a reminder to trustees of self-managed super funds about the need to deal with death benefits expediently. It says errors are common. When an SMSF member dies, the SMSF generally plays a death benefit…

Rental property and the in-house assets risk

Trustees of self-managed super funds that own vacation rental properties must take extra care when managing an asset that gets a lot of attention from the tax office around tax time. SMSFs risk breaching the in-house assets rule, as well…

Perennial launches pre-IPO fund

Super fund investors who are prepared to lock their money away for five years can gain exposure to a portfolio of unlisted companies, including many that are preparing for an initial public offering. Perennial Value Management has launched the Perennial…