SMSF investment rules: What every trustee should know
Penalties for SMSF breaches rose on 1 January 2023 so it’s now more important than ever to make sure your SMSF is doing the right thing.
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Penny has nearly two decades experience of writing, reporting and editing financial services publications for both institutional and retail readers. She has contributed to, and edited, the Money Section of the Sun Herald and The Sunday Age.
She has written for the Australian Financial Review and the Sydney Morning Herald, the Cooperative Research Centres Association publication KnowHow Magazine, JMoney, In The Black and Global Investor.
Penalties for SMSF breaches rose on 1 January 2023 so it’s now more important than ever to make sure your SMSF is doing the right thing.
Take a few minutes out of your day to make some financial commitments for your self-managed super fund in 2023.
The ability to invest in real property is one of the attractions of SMSFs, but it’s tightly regulated.
Downsizer eligibility age lowered from 1 January, TWUSUPER and Mine Super enter merger talks, Bank-owned super funds required to disclose dividends, ASIC issues updated guidance on SMSFs, Retirement costs rise with inflation, Total superannuation assets fall, HNW investor numbers ease as assets grow, 57% pass rate for November financial adviser exam.
Research shows SMSFs are cost-competitive at balances of $200,000, prompting ASIC to remove its previous guidance that a minimum balance of $500,000 is desirable.
There are two ways you can use the sale proceeds from a business to boost your super, and the CGT retirement exemption is one of them.
Objective for superannuation to be legislated, Vanguard Super launches lifecycle super fund, Super funds that failed performance test cut fees, AMP launches income for life account, Income limits for Commonwealth Seniors Health Card rise, SMSF data for June 2022.
The decision to wind up an SMSF should not be taken lightly; there is process that must be followed and it can be time-consuming and costly.
Big shift to more conservative super options, ESG funds reach a tipping point and the Federal Treasurer announces a new investment industry roundtable.
Older single women face increasing challenges to building a superannuation balance that can adequately support them in retirement.
It’s worth getting your head around the ECPI rules, as they can provide tax benefits if your SMSF is paying a pension.
Pensioners allowed to work more to boost labour market, Separating de facto couples in WA can now split super, Vanguard Super on track for 2022 launch, Biggest SMSF in Australia has over $400 million in FUM, SMSFs become more popular with younger investors, Quality of advice review proposes removal of Statement of Advice requirements, November deadline looming for Director IDs.
If your SMSF comes to the attention of the ATO for the wrong reasons, don’t panic; swift remedial action is generally the best policy.
Withdrawing a big pot of money from your super can be tempting, but strict rules apply. And then there’s tax.
Former Dixon clients need to make complaints ASAP, ASIC warning on super complaints handling, ATO warns of SMS scams, First RBA review in three decades announced, Early release scheme came at a real cost for millions of Australians, New research identifies lower super balances may be needed for retirement.
Rapid advances in technology could help make lighter work of managing your own super fund and potential cost savings.
Retirement Income Covenant goes live, Super fund average performance drops, Deeming rates frozen, YFYS performance test to be reviewed, SMSF numbers continue to increase.
The new retirement income covenant effective from 1 July doesn’t apply to SMSFs, but that doesn’t mean trustees can’t learn from it.
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