In July 2016, a new set of collectibles rules will become a part of the SMSF management structure. It is rather unfortunate, but quite in tune with the trend, that many SMSF trustees are grossly unaware of them.
Category: Feature Archives
Should You Add Your Children to Your SMSF?
SMSF rules are such that a minimum of two individuals are required to make the cut. On the other side of the spectrum, four is the maximum number a single fund can have. In more general cases, two fund members (read trustees) of an SMSF are spouses.
What ATO’s SMSF Statistics Point At?
ATO has had a big hand in letting SMSF know where it stands from time to time. It has brought its new penalty regime, especially in holding discussions with the Financial System Inquiry about how the LRBA transactions must proceed in the SMSF space. The premier body has come up with a few interesting SMSF statistics, too. Let’s read what they talk about.
Which Superannuation Funds Have the Best Returns?
There is a rather disappointing research data result which shows that members of Superannuation funds have amassed lowest returns in the last three years or so. Those Australians who have put their retirement savings in balanced options have garnered only 8.1% for their efforts. In comparison, 2013 offered more than double the profit registered in 2014 (16.3%) and 2012 did not do badly either, fetching a decent 11.7%.
Managing SMSF on 2015
SMSF has had a terrific run of late and things may only get better from here looking at the trend so far. This said, SMSFs also need to be wary of certain aspects and look diligently into others to make the most of the opportunity at hand. The same is just as true, if not more, for the SMSF practitioners.
What Your Accountant Should Know About Your SMSF
For SMSFs, it is significant that all their transactions go through the bank account of the fund. There must be an investment strategy in place and it should be compliant with the ATO guidelines. With this is mind, any such strategy is to be declared beforehand.
