Ask Meg Heffron, customer head at Heffron, and she will tell you how corporate trustees are the way ahead. While it is true that 9 out of 10 SMSFs have individual trustees on board, it is truer that the figures will change dramatically towards corporate trustees in a short while. ATO’s powers to impose penalties have been revised further and this only augurs well for the lobbyists of corporate trusteeship for SMSFs. Let us find out how.
Category: Feature Archives
BDBN Is Not the Last Word On Succession Planning
Is Binding Death Benefit Nomination (BDBN) the last word in terms of succession planning? Does the executors of the deceased become the trustee of his estate, too, by default? These are pertinent questions and may eventually decide who holds the largest pie in the succession battle and the money we talk about includes the amount placed in the deceased’s SMSF.
SMSF Members Ignorant About Insurance in Super
While surveys may be skewed to an extent, they almost effectively summarise consumer sentiment. It then comes as disturbing news that fund executives and superannuation trustees (acting as survey respondents) believe that less than 30% of the SMSF members actually understand the life insurance cover they are being sold with their super fund.
SMSF Investments Need Risk-benefit Analysis
SMSF is amongst the most sought-after routes of saving in the post-retirement nest. Its ability to diversify into cash funds, ETF and real estate have helped germinate quite a bit of trustee and member interest. It has also lapped up a few government initiatives in the way. This proves beyond doubt that the SMSF market will stay. But is it going to cost us dear in the long run?
Brokers and Spruikers Overselling SMSF Properties
Nearly 4% of the $543 billion held in SMSF investments has been poured into residential real estate. Commercial real estate can boast of roughly three times this figure. When we talk of a cumulative figure in excess of $80 billion, there is a need to be diligent about tracking your investments.
New Standard for Super Payments Released
Come 1st of July 2014 and any employer with more than 20 employees under his belt will have to be really diligent in providing details of his superannuation contribution. SuperStream, also referred to as Data and Payment Standards, asks all the employers (passing the ’20 employee’ criterion) to pay super payments to their employees with the help of the government’s payment system.
