It is not to say that the days of the big Super funds are over, but there is certainly a pleasant chord struck between the Australian masses and the SMSFs, writes Miranda Brownlee in an article for the SMSF Adviser. We have certainly come to accord greater value with the SMSFs.
Category: Commentary Archives
An article on the website The Adviser talks about the approach of two groups which have thrown brickbats at the Financial System Inquiry’s recommendation about banning SMSF borrowings. Both the financial groups feel that the recommendation is self-defeating in nature and may push back the SMSF sector by years.
In an article for the website Money Management, Jason Spits talks about ATO’s effort in busting the myth that says the SMSF industry is getting inclined towards the younger trustees. Had this been the case, contests Spits, the number of funds holding $150,000 or less would not have declined over the last 4 years. After all, these are the funds held largely by the younger trustees.
In an article for the SMSF Adviser, Katarina Taurian sheds light on the withdrawal of ATO’s product ruling system. The system was a boon for trustees as it allowed product providers to get their products’ legislative merit tested by the ATO. The ATO then had to make a ruling as to whether the product passed when seen through the legislative perspective.
An article on news.com.au discusses the need for handing out a higher Super rate to women than men. The Association of Superannuation Funds of Australia believes that employers should be in a position to offer higher rates of Super to women and entirely so without breaching the anti-discrimination laws.
An article on the website news.com.au talks about the current Superannuation savings scenario in Australia and why people would do well to review where they are headed. Unless Australians take stock of the scene, they might face a bleak retirement prospect. It is ironical that a nation which can boast of $1.8 trillion in Super cannot take help from this retirement vehicle (read the Sole Purpose test) to aid their post-retirement life.