DIY Super For Dummies (Wiley, $39.95) is written by Trish Power and is a plain-English and practical resource for anyone running their own fund, or considering running their own fund. DIY super is a specialist area within the super sector because it is a microcosm of the entire sector — involving fund administration, compliance, investment management, tax management and retirement planning.
The following articles refer to DIY Super For Dummies and superannuation.
Q: I’m finding many aspects of taxation to be quite difficult to understand. Terms such as “Tax free/ taxable component; Restricted, Preserved”. Is there one of your books that would be a useful guide to me in this undertaking?
The most popular question about superannuation and retirement planning is, without doubt: How much money is enough?
So, the big question is: how much money do you really need for your retirement? Lifestyle is a very personal thing —luxury living for one person is a modest existence for someone else.
If you run a self-managed super fund (SMSF), or you’re considering running a SMSF, then I recommend you check out a fantastic, and free, online SMSF trustee education tool.
Q: I came across your website which looks excellent (courtesy of your feature on Sky Business). I am about to set-up my SMSF but I am not sure who to handle this for me. Some online providers are reasonably priced but I am concerned about access and professionalism as they are online only. I have [...]
Q: Could you lead me to a link where I could find a generic S290-170 notice of intent to deduct? It would be great to have a generic list of forms that would assist self-managed super fund (SMSF) trustees. Trish’s response: You can download the ‘Notice of intent to claim or vary a deduction for [...]
The practice of calling self-managed super funds, ‘DIY super funds’ upsets the regulator, and also concerns many of the service providers making a living from helping individuals set up, and run, self-managed super funds (SMSFs). The key message emanating from the SMSF industry is that you can’t possibly do it all yourself; you need professionals [...]
When setting up your SMSF, you must sign a SMSF trustee declaration that confirms you understand the responsibilities and duties involved in running a SMSF.
Q: My husband and I are looking to start a SMSF and roll our industry funds into it. We have been able to find sources for the set up, accounting and audit of the fund and are now looking for assistance on the portfolio. We have a share portfolio outside super and so have some [...]
Hi - I'm Trish Power, author of Superannuation For Dummies and many other books on super and investing.
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