SMSFs provide members with a high degree of control and flexibility, but there are strict rules attached.
SMSF compliance
How to avoid getting caught in the in-house asset trap
Getting in-house asset rules wrong could cost you and your SMSF thousands of dollars but they continue to be one of the most common contraventions made by trustees.
What SMSF trustees need to know about non-arm’s length expenditure (NALE)
The complex rules around non-arm’s length income and expenditure have been clarified, but there are still traps for the unwary.
What are the penalties for SMSF non-compliance?
We all make mistakes, but when it comes to your SMSF it’s important to work with the ATO to rectify mistakes or stiff penalties can apply.
Losing capacity: The issues for SMSF trustees and what you need to do
None of us likes to think about losing mental capacity, but failure to plan for the possibility can have a major impact on the running of your SMSF and its other members.
What work can I do for my SMSF and can I be paid?
There are strict rules governing paid work you can and can’t do for your SMSF. Getting it wrong can be costly.
Director Identification Numbers: What is required for SMSFs
If you have a self-managed super fund (SMSF) with a corporate trustee, then you need to be aware of the new requirement to apply for and obtain a Director Identification Number (Director ID).
Guide to SMSF trust deeds
Before you set out on your SMSF journey, you will need a road map known as a trust deed.
Guide to SMSF audits
An annual audit is one of the necessary chores associated with running an SMSF, but it can save trustees from inadvertent and costly breaches of the rules.
What is the sole purpose test, and how does it work?
For all its complexity, super boils down to one simple goal. Lose sight of that goal, and the ATO will come knocking.
SMSF estate and succession planning: What’s the difference?
When planning who gets what when you die, many people forget about their SMSF. It’s not just about the distribution of fund assets, but who’s in control.
Total Superannuation Balance: When it applies and what is included
Recent increases to contribution caps also impact your total super balance. Here’s how it works.
Running multiple SMSFs: What are the pros and cons?
Although it’s legal to have more than one SMSF, there are important pros and cons you need to consider before taking the plunge.
Six member SMSFs: What to consider
Six member SMSF funds – they sound like a sensible idea, don’t they? Put the family in one super fund, make joint investment decisions, help the children save and heaps more reasons. Why not?
SMSFs: Legacy pension relief at long last
SMSF members will be able to exit old-style pensions for new if this Budget measure comes to pass.
