News : Strategy

Administration, Strategy

30 June traps avoidable, but record-keeping vital

Advisers have options to make contributions to an SMSF in the days leading up to the end of the financial year, but need to be proactive in recording dates of transfer.

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Documentation, Strategy

Abbott to seek funds, continues political push

Man taking money out of wallet for crowdsourcing

SMSF expert Grant Abbott will seek crowdsourced funding to expand his fledgling document business and has also committed to growing his recently launched political party.

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Property, Strategy

Division 7A changes pose potential trustee risk

SMSFs with related-party loans should be wary of a range of changes slated for Division 7A loan rules.

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Documentation, Strategy

Wording can undermine BDBN

The wording of a binding death benefit nomination is paramount in determining its efficacy, a specialist lawyer has said.

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Strategy, Superannuation

Fund balance questions overlook pooling advantage

Small wooden figures illustrating a pool of people and fund balances in an SMSF

Concerns about member balances in SMSFs overlook the fact many funds are set up with multiple members boosting the fund balance, according to Class Super.

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Strategy

Corporate trustee not foolproof

Sign reading caution as warning on use of corporate trustee stuctures in SMSFs

Significant events such as having a fund member die can highlight the flaws contained within a corporate SMSF trustee structure, according to an industry strategy specialist.

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Retirement, Strategy

Retirees not achieving financial security

Man seeking financial security lost in maze raising arms in frustration

Financial security and peace of mind rank as key concerns for retirees, with no identifiable solutions to these issues, a recent study has shown.

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Strategy, Superannuation

Easing of contribution rules can be powerful

A policy specialist has identified that maximising the ability for 66 and 67 year olds to use the non-concessional contribution bring forward rule could result in a significant boost to these people’s retirement savings.

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Strategy, Superannuation

Contribution measures get mixed reaction

The federal government’s decision to scrap the work test and enable the non-concessional contributions rule for people aged 65 and 66 has been met with a mixed reaction.

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Strategy

Alternate or successor director for an SMSF? – Part two

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DBA Lawyers compares the option of a director nominating an alternate director in contrast to nominating a successor director in an SMSF context to determine which is better.

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