In late 2012, the Australian Tax Office undertook a review of the SMSF trustee declaration and the associated fact sheet (Self-managed super funds – key messages for trustees), and made significant changes to both documents. All new SMSF trustees must complete and sign the SMSF trustee … [Read more...]
Note: In late 2012, the Australian Tax Office undertook a review of the SMSF trustee declaration, and released a revised declaration and revised the accompanying key messages. All SMSF trustees should take a few moments to revisit the declaration, in particular, the 3 main changes to the … [Read more...]
Q: Can a SMSF buy/sell call/put options? I understand that CFDs are not permitted because it breaches the charge over asset regulation. However, is that true that options are derivatives and in giving shares as a collateral (when writing options) to the Options Clearing House, it will treated … [Read more...]
Q: Since we can now use super to purchase real estate, is this also true for property in the United States? Can you provide me with some guidance on how I could find out the process and correct entities to establish in order to do this? Thanks. A: Before I answer your question, I need to clarify … [Read more...]
Q: Do I need to provide a copy of my super fund’s trust deed and financial strategy to my SMSF fund auditor in order to complete the auditing process? ‘Yes’ is the answer, based on the ATO publication ‘Auditing a self-managed super fund’, which provides instructions for SMSF auditors. … [Read more...]
If you’re running a self-managed super fund, then you’re obviously aware that being a SMSF trustee/member is a very different experience to belonging to a large super fund. In a large super fund, someone else looks after your superannuation benefits. As a SMSF trustee, you make all of the … [Read more...]
Going solo in super is a long-term financial decision. A DIY fund may be a feasible option for an individual if they satisfy the following criteria: More than $200,000 in super savings Access to an adviser who knows a lot about DIY super Comfortable with the costs involved in setting up and … [Read more...]
Q: I (my wife & I) have had a self-managed super fund (SMSF) since 1996. As rules concerning income streams etc have changed since the date of my deed, can we simply sign a current, new, trust deed to make it effective for our requirements, or do I need to amend the relevant clauses in the old … [Read more...]
The Federal Government released its response to the Cooper Report on 16 December 2010, and among the 139 recommendations it took on board from the Cooper Report, one of those recommendations could potentially be explosive for those SMSF trustees who have used the new borrowing rules, or plan to use … [Read more...]
As a property and share investor for more than 20 years, I believe the use of gearing (borrowing) can be a legitimate means to purchase assets, but gearing is not an investment in itself: it is simply a means to invest with associated costs and extra risk. Many of you will already be aware of my … [Read more...]
Q. How often or by what criteria can you buy and sell listed shares to obtain a financial gain without being classed as a trader? I understand the trader/investor criteria outside the fund and the tax treatment but is it any different inside the fund? Is there a problem if shares are bought and sold … [Read more...]
