Retirees and baby boomers with investments in self-managed Super funds (SMSF) who have the potential to outlive their retirement savings may find themselves in a financial quagmire if their SMSF advisers do not immediately address the situation.
Super News
SMSF Traps to Watch Out For
In a relatively short space of time, SMSF has become a very popular vehicle of retirement planning. While it has gained a lot of fame, a bit of notoriety has also come its way. There are critics claiming how SMSF gets tax favours and how compliance rules bypass important concerns like credit franking (divided swapping).
SMSF Trustees Under ATO Scrutiny
In an article for the website SMSF Adviser, Miranda Brownlee explains how the ATO has pepped up its scrutiny of the SMSF sector and is contemplating stern action on non-complying trustees.
Superannuation Planning Explained
There is popular consensus that 5% returns can be expected from the Superannuation funds. Of course, there will be years like 2014 when there will be bullish returns close to 17%. But to offset the generous bargain, there will be GFC-hit years like 2008 which will show -13% returns. So overall it is safe to assume a figure of 5%.
Are SMSF Trustees Ready for New Collectibles Rules?
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.
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.
