The SMSF sector may lack prudential regulation, but the ATO compliance work amply ensures that it does not get astray. The ATO keeps a dual target in mind; it wishes to be an ally to all those who want to play by the rules but are ignorant about them as yet. And at the same time, the ATO also wants to come down hard on those who are deliberately breaking the rules assuming they will get away with it.
Category: Feature Archives
How Should You Go About Retirement Planning in 2015
We are about to witness an explosion of retiring Baby Boomers and this is going to happen sometime pretty soon. It is not a smart economic commentary on the times we live in that most of these Baby Boomers are unprepared for their retirement. Men are faring just a little better than women and this can be put down to women’s higher life expectancy in particular.
A Corporate Trustee is Much Needed for SMSF Succession
Smooth and seamless succession for a Self-managed Super Fund is quite possible. For some time, the industry has played around with many styles of doing so, but presently, we can say with a fair degree of conviction that we are there and that it can be done effectively. Before anything else, it is significant to have your estate planning in line with your SMSF succession.
Australians Trust SMSF More than Super Funds
It may be too early to say that we are done with the conventional Super funds but by the look of it, we are surely getting increasingly enticed by the SMSFs. The industry has well and truly emerged as the fastest growing Superannuation sector. In fact, $557 billion out of the entire $1.9 trillion sounds to be some figure to boot home.
What to Expect about SMSF in 2015
Many regulatory changes are lined up in the SMSF sector for the year 2015. They are many positive developments and potential challenges lying ahead, too. Only recently, the Financial System Inquiry has deemed fit to recommend that the borrowing structure for the limited recourse SMSF loans must be changed.
Developments that Shaped the SMSF Sector in 2014
The SMSF sector witnessed quite a few developments in the year 2014. At the beginning of the year, investors and trustees were apprehensive to say but the least. Rumour mills were working overtime and government’s iron-fisted regulation was being talked about. These, however, remained merely rumours as government decided to play it easy and keep SMSF regulation more of a formal thing. It believed that prudential standards could be a bane for a sector as small and volatile as SMSF.
