Starting a pension from your self-managed superannuation fund is relatively straight forward once you know what to do. There are a few things you absolutely must do but, as an SMSF trustee, you also have a fair bit of flexibility and control when it comes to how much and how often you pay the pension. The following ... Read more
SMSF investment strategy health checklist
Just like a full body check up can identify early signs of potential health issues, a health check of your SMSF’s investment strategy can also help to ensure your SMSF is working well for you. ... Read more
SMSF annual admin checklist
Trustees have a lot on their to-do list, not least of which is to keep on top of administration. But remembering to keep up to date with paperwork and other requirements is an important legal responsibility for an SMSF trustee. ... Read more
SMSF trustee meeting event checklist
The Superannuation Industry (Supervision) Act 1993 states the following with regard to when minutes need to be kept: (1) If a superannuation entity has a group of individual trustees, the trustees must keep, and retain for at least ten years, minutes of all meetings of the trustees at which matters affecting the ... Read more
4 strategies to help fix your total super balance problem
Having too much when it comes to your retirement savings is a problem many people would like to have. But if your account balance has almost reached the $1.6 million total super balance (TSB) threshold, it can create real problems when it comes to making further contributions. So, what are some ways you can reduce your ... Read more
10 steps to buying a commercial property and leasing it to your SMSF
For many small businesses and professional firms, one of the great benefits of an SMSF is your fund can take out a loan to buy the commercial property used by your business and you become your own landlord. But like all things with super, there are plenty of rules you need to follow. So, here’s a simple 10-step guide ... Read more
What SMSF trustees need to know about non-arm’s length expenditure (NALE)
SMSF trustees should be familiar with, and understand, the requirement that all transactions their self-managed superannuation fund undertakes need to be at ‘arm’s length’. When income accrued to an SMSF is not at arm’s length – for example rent received by an SMSF that is below market rates – this is called non-arm’s ... Read more
Definitive guide to the $1.6 million transfer balance cap
One of the most significant changes to superannuation – the introduction of the $1.6 million transfer balance cap – became effective on 1 July 2017. The Australian Taxation Office (ATO) estimates the changes will impact only 1% of Australian superannuants, however that 1% needs to be clearly across the Treasury Laws ... Read more
Asset sector performance: Returns over 1 to 15 calendar years (to December 2019)
In this article you can discover the investment performance for 12 asset classes over various timeframes. For all asset classes there is data for 1, 3, 5, 7 and 10 calendar years, and for most asset classes there is also data over 15 calendar years. Note: A calendar year covers 1 January to 31 December, whereas a ... Read more
Asset Sector Performance Reckoner
SuperGuide’s Asset Sector Performance reckoner allows you to compare the investment performance of various asset classes over the short, medium and long term. The reckoner covers 12 asset classes over 1, 3, 5, 7 and 10 years and, where available, also over 15 years. The maximum performance timeframe available for each ... Read more
The arm’s length rule for SMSFs
If you are a trustee of your own self-managed super fund, you’ve probably heard of the ‘arm’s length’ rule. The concept of ‘arm’s length’ is familiar to businesses the world over. To ensure business transactions are conducted at commercial market values buyers and sellers must act independently, without colluding and ... Read more
What on earth is an in-specie transfer?
It may sound like an alien abduction, but in specie transfers have a more down-to-earth meaning in superannuation parlance. Most super fund members are familiar with the process of making contributions to their super account. However, they may be less familiar with the process of transferring an asset such as property ... Read more
Your SMSF calendar
SMSF trustees have a lot to remember. Along with trustee meetings and minutes, trustees need to keep up to date with current superannuation legislation and review their investments regularly. There are annual returns to lodge, auditor reports to arrange and actuarial reports to book as well if your SMSF is paying a ... Read more
5 new year’s resolutions for your SMSF
The beginning of a new year is frequently the time when people begin planning for the year ahead. Many of us usually have a few days holiday, if not a few weeks, which gives us time to recharge and reflect. A self-managed super fund (SMSF) is no different to a fitness, diet or a savings plan, in that a few days ... Read more
Choosing an SMSF service provider
Most people who choose to run their own self-managed super fund are drawn to the control and flexibility they offer. But the reality is that unless you have a high degree of SMSF and investment knowledge, as well as plenty of time available to manage your fund, you’re likely to need at least some professional ... Read more