SMSF compliance

Set out below are all SuperGuide articles explaining SMSF compliance.

SMSF pensions: Stick with original tax-free and taxable components

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Q: I recently read your book on DIY Super for Dummies and picked up a number of useful hints. Thanks for writing it. My wife and I have only recently established a SMSF and are on a steep learning curve. We are in the pension phase. Both of us have a large tax-free component and a smaller taxable … [Read more...]

Retirement and tax: What are the minimum pension payment rules?

Rules

Q: I am 63. I want to retire next year but I am not sure if I want to access my super benefits yet. I have heard that when I retire, I must withdraw some super benefits each year, otherwise I won’t receive tax-free super benefits. Can you please clarify the rules for me? A: You question is really … [Read more...]

SMSF investment: Can we sell fund assets to members?

land

Q. We understand that SMSFs cannot purchase property from members. What we want to know is whether members can purchase property owned by the SMSF, providing fair market valuation is paid for this? Does the valuation need to be established through a valuation, or is an appraisal sufficient? Our SMSF … [Read more...]

SMSF investment: Purchasing overseas property

realestate

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...]

SMSF investment: Can my DIY super fund invest in direct property?

Bricks

Q: I am interested in setting up a self-managed fund. I would like to know more about the rules for purchasing property in a super fund, and whether it is possible to use borrowings to do so. A: A self-managed (DIY) super fund can invest in all types of property, including residential, … [Read more...]

SMSF investment: Buying commercial property, and borrowing options

Commercial

Q: My wife and I purchased a licensed post office and freehold from Australia Post nearly 20 years ago. In addition to the licence, we acquired one title with one building (part of the building is leased to a commercial tenant and part we use to run the post office). A freestanding shop was added in … [Read more...]

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...]

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...]