News : SMSF

financial advice, Financial Planning, SMSF

Online advice driving new set-ups

New SMSF trustees are shunning traditional sources of advice when setting up a new fund, choosing to rely on online information and word of mouth.

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ATO, SMSF

Middle-to-higher incomes boosting SMSF growth

ATO SMSF Fund Establishments Asset allocations SMSF quarterly fund statistics

The March quarter saw more men and women with higher incomes establishing SMSFs, potentially reversing a trend of lower-income investors setting up funds.

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Compliance, Legislation, SMSF, Tax

Div 296 myths already present

Division 296 tax SMSF Myths

Myths regarding the operation of the proposed Division 296 tax are already evident and may cause unnecessary and flawed SMSF strategies.

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Retirement, SMSF

SMSF members confident in retirement

SMSF retirement savings Vanguard Investment Trends confidence

The level of confidence SMSF members have that their retirement savings will be sufficient to last their lifetime is three times higher than for those without a fund, new research has found.

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Documentation, Pensions, SMSF

Pension contracts can add legal assurance

Pension contract SMSF SIS Act

Using a pension contract to specify the rules for an income stream can offer greater legal certainty and administrative control to SMSF trustees.

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Contributions, SMSF, Strategy, Tax

Deadline looms for double deduction strategy

Contribution strategy Deduction SMSF

SMSF trustees looking to reduce the amount of tax they pay through the use of the double deduction contribution strategy must act by the end of June.

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financial advice, Financial Planning, SMSF

Advised SMSFs hit all-time low

SMSF Financial advice Vanguard Investment Trends Irene Guiamatsia

The number of advised SMSFs has dropped to an historical low, with advisers being urged to reconsider how they offer services to existing and new trustees and fund members.

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Insurance, LRBA, Property, SMSF

LRBA insurance payments not linear

LRBA Life insurance SMSF Business real property

SMSFs holding life insurance to cover liabilities from an LRBA should be aware any benefits from the policy may not actually be applied to the arrangement.

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Legislation, LRBA, SMSF, Tax

LRBA ban key to Greens Div 296 vote

SMSF LRBA Division 296 Australian Greens

The Greens are calling for restrictions on the use of LRBAs by SMSFs as a condition for the party’s support for the Division 296 bill before parliament.

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Auditing, Compliance, SMSF

Investment decision evidence required

SMSF Investment strategy Documentation Supporting evidence

An SMSF investment strategy must be documented along with the decisions the fund’s trustees have made in order to adhere to it.

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