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August 2024 SMSF newsletter

How to invest according to your values and address climate risk in your SMSF portfolio
Climate change, sustainability, greenwashing – investing is a minefield these days but there are steps you can take to align your investments with your values. Read more.
How to invest according to your values and address climate risk in your SMSF portfolio
Climate change, sustainability, greenwashing – investing is a minefield these days but there are steps you can take to align your investments with your values. Read more.
SMSF statistics: 1.1 million members with $869 billion in super
The size of the self-managed super fund sector continues to grow in terms of members and assets, at the expense of all but industry super funds. Read more.
SMSF statistics: 1.1 million members with $869 billion in super
The size of the self-managed super fund sector continues to grow in terms of members and assets, at the expense of all but industry super funds. Read more.
What type of people have SMSFs?
If you think SMSFs are just for old wealthy Australians, think again. Increasingly, younger people and women are also embracing the self-managed ethos. Read more.
What type of people have SMSFs?
If you think SMSFs are just for old wealthy Australians, think again. Increasingly, younger people and women are also embracing the self-managed ethos. Read more.
Transition-to-retirement strategies
A TTR pension not only offers greater work-life balance, but it can also open up potentially beneficial strategies and opportunities. Read more.
Transition-to-retirement strategies
A TTR pension not only offers greater work-life balance, but it can also open up potentially beneficial strategies and opportunities. Read more.

Buying property in an SMSF

Thursday 25 August 2024 at 11:00 am AEST

From the compliance requirements to the strategic opportunities, this webinar will also include an attendee Q&A Session.

August 1

It’s time to implement any investment decisions that need to be executed. Have equity market movements resulted in a shifting of your asset allocations? Are you now seriously overweight in financials, for example, and need to sell some to rebalance towards another sector such as retail?

Think about reallocating in accordance with your investment strategy, or revising your investment strategy if that is necessary. Keep all trustees in the loop with a trustee meeting and don’t forget to minute any major decisions you make for the SMSF and keep a record of it.

August 17

If you established your SMSF last financial year, or if you did not lodge your annual return on time the previous financial year, you need to lodge your annual return by 31 October. That means you need to start thinking about appointing an auditor for the audit report to lodge with your annual report.

Don’t forget, you need to appoint your SMSF auditor no later than 45 days before you must lodge your SMSF annual return.

You can search for a registered SMSF auditor on the ATO website here.

You need to provide your auditor with all the relevant information for them to audit your fund. This includes all information concerning your accounts, transactions and investments.

The auditor needs the SMSF balance sheet, the SMSF income statement and an SMSF member statement.

They may ask for additional information, which you must supply within 14 days of their request, so the sooner you get onto this the better.

The auditor is also required to report certain contraventions they see to the ATO.

Important: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.

Superguide Pty Ltd ATF Superguide Unit Trust as a Corporate Authorised Representative (CAR) is a Corporate Authorised Representative of Independent Financial Advisers Australia, AFSL 464629.