SMSF administration

Set out below are all SuperGuide articles explaining SMSF administration.

It’s official! More changes to SMSF rules from July 2014

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In March 2014, the Australian parliament finally gave the nod to a suite of penalties directed at SMSF trustees who fail to properly adhere to the super rules. According to the explanatory memorandum that accompanies the new legislation, the new SMSF penalties, taking effect from 1 July 2014 will … [Read more...]

Do you fit the profile of a ‘typical’ SMSF trustee?

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Note: We regularly update this article with the latest data on self-managed superannuation funds (SMSFs) issued by the Australian Taxation Office. This article contains the latest data available as at January 2014 (for data up to September 2013). The latest ATO statistics on SMSFs (representing … [Read more...]

SMSF: Annual ATO levy to be cut

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Hidden in a raft of 92 outstanding policy items relating to the outcome of unlegislated tax and superannuation measures, some uncharacteristic good news came to light for SMSF trustees. Due to several SMSF-related measures not proceeding under the new government, the government has promised to … [Read more...]

SMSFs: How much money do you need to start one?

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In late 2012, the Australian Securities and Investments Commission (ASIC) asked consultants Rice Warner to examine whether there was a minimum cost-effective fund balance for an SMSF. The final report was released publicly in September 2013, and ASIC has asked for industry feedback on the … [Read more...]

SMSF providers: What should I look for when setting up my DIY super fund?

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Q: I am about to set-up my self-managed super fund (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 checked out various other providers (but unsure who to go with). Have … [Read more...]

Oops! Top 10 SMSF boo-boos

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Note: Every year, the ATO publishes the top compliance mistakes made by SMSF trustees. This article contains data up to 30 June 2012. The next update, for compliance data up to 30 June 2013, will be available in April 2014. The ATO has published the top 10 compliance mistakes that SMSF trustees … [Read more...]