SMSF trustees and advisers need to have planned some tax minimisation strategies well in advance of the commencement of a pension, and also should allow any future change in member circumstances, a superannuation technical specialist has warned.

In recent times the focus on using an intergenerational SMSF as part of an overall estate planning strategy has increased, particularly where the succession of a family business is concerned. But what exactly is an intergenerational SMSF?

An SMSF technical expert has warned accounting for a reserving strategy for non-concessional contributions (NCC) is not straightforward and requires careful attention to ensure it is done properly.

Advisers with SMSF clients will begin to use new and also better employ existing strategies for their clients as a result of the sweeping changes to superannuation proposed in the budget.

A specialist SMSF lawyer has revealed many advisers are exploiting 50-50 unit trust strategies, with many found to be running multiple trusts in a single fund, as well as a known case of an SMSF with as many as 12.

SMSF trustees need to place greater importance on their fund’s investment strategy, which sets out the fund’s investment objectives and specifies the types of investments it can make, as it is commonly overlooked.