News

Residential Property

First Home Super Savers Scheme not for SMSFs

SMSFs are not a suitable vehicle to facilitate the First Home Super Savers Scheme due to the nature of the structures and the flow-on effects that may result from the strategy, a specialist superannuation lawyer has said.

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ATO

ATO extension allows flexibility: SMSFA

The SMSF Association has welcomed the ATO’s decision to extend the lodgement date for SMSF annual returns in light of the superannuation legislation changes and compliance points funds need to get through before 1 July.

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Business News

Advised SMSFs outperform self-directed

Advised SMSFs outstripped self-directed SMSFs over the 12 months to June 2016, according to the latest industry research.

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Business News

Early release scheme operator convicted

A South Melbourne man has been convicted and fined $6000 in the Melbourne Magistrates Court after pleading guilty to operating an unlicensed financial services business promoting the early release of retirement savings benefits through SMSFs.

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Compliance

Real-time reporting nothing to fear

SMSF trustees should not be concerned the obligation to adopt real-time reporting, as a result of the super reforms brought down in last year’s budget, will lead to a significantly onerous administrative burden for their funds in the future, a technical expert has said.

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Business News

Income, volatility still among pain points

Annual investor research performed by AMP has identified generating income and managing the volatility of equity markets as two significant concerns for SMSF trustees.

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Business News

No aggressive gearing on P2P platform

Online peer-to-peer (P2P) lending firm LendEx has revealed it has not seen evidence of SMSFs using aggressive limited recourse borrowing arrangements (LRBA) on the platform as inquiries for loan requests increase.

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Investments

Time to look at different property options

Property has long been a stable and desirable investment option for Australians, but the question of whether to invest outside of super or within an SMSF is raised often.

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Compliance

TBC of most concern to trustees

Knowing how to comply with the $1.6 million transfer balance cap (TBC) to be introduced on 1 July is the issue SMSF trustees are most worried about as indicated by the five most frequently asked questions of the ATO.

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Direct Property

SMSFs set for higher direct property costs

SMSFs holding direct property within their investment portfolios could experience an increase in administrative costs from 1 July onward due to changes in the treatment of some expense items.

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