News

ATO

ATO stipulates concerns over reserves

The ATO has declared it will be closely scrutinising any apparent changes in the use of reserves in response to the newly imposed transfer balance cap and total super balance.

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Accounting

Care over market values underscored

SMSF accountants and advisers have been warned to exercise additional care when determining total super balances as two different market values could result in contributions consequences for clients.

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Accounting

SMSF accountant satisfaction drivers revealed

A jigsaw puzzle piece.

Drivers of trustee satisfaction with SMSF accountants vary according to life stage, the latest industry paper has found.

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ATO

SMSF Association supports TBAR option 2

The SMSF Association has called on the ATO to adopt a practical approach regarding the introduction of the transfer balance account report (TBAR) and in doing so has thrown its support behind the proposed ‘option 2’ method of reporting.

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Business News

SMSFs show gender and group bias

The latest industry research performed by the University of Adelaide’s International Centre for Financial Services and SMSF administrator SuperConcepts has revealed group and gender are significant factors in determining the investment philosophy of an SMSF.

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Retirement

The truth about the ageing brain

Deciding to “cross that bridge when I come to it” may leave SMSF investors with less-desirable options and outcomes, and their families and advisers with more stress and risk.

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Business News

Monthly income LIT resonates with SMSFs

Metric Credit Partners (MCP) has experienced immense support from investors, including SMSFs, with its Master Income Trust initial public offering, which closed yesterday, raising more than $500 million.

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Strategy

TBC may lift partial pension commutation use

Partial pension commutations have the potential to become more common as part of a strategy to comply with the transfer balance cap (TBC), the director of an advisory firm has said.

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Business News

Number of SMSFs likely to close jumps

The number of trustees that are likely to leave their SMSF has doubled from last year, a recent industry report has found.

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Estate Planning

Small portion of SMSFs passing on wealth

Footwear of varying sizes in a row.

Only 7 per cent of SMSFs in or transitioning to retirement have specific inheritance plans, with the majority of trustees choosing to use their super to fund retirement spending, a new report from the SMSF Association and Accurium has revealed.

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