The SMSF industry is not governed by prudential regulations, but the strict eye of the ATO more than compensates for it. So if you are an SMSF trustee and you feel you have erred somewhere and the ATO may attend to it anytime soon, it is wise to get your folly corrected.
SMSF trustees don’t always take all the right steps. It is but natural to fumble and flounder at times. Here are some of the errors SMSF often make — and thus, you should try to avoid.
Is buying and gearing your business premises through your SMSF a lucrative idea? What are its possible potholes? Let us discuss this subject matter.
I was reading an article on SMSF Adviser which talked about administrative penalties for those Self-managed Super fund owners who have outdated SMSF trust deeds. Besides, such a situation can result in a compromised death benefit.
SMSF is an unyielding success story. Commanding a peculiar amount of investor frenzy, it has come to represent about 32% of the total Australian Super pool worth $1.6 trillion. Apart from being a near-guarantee of decent retirement, SMSF is also a ladder towards building a powerful retirement nest egg; aimed at making your post-retirement journey more than ‘decent’.
SMSFs have done well for themselves. It is the general impression and true to a great extent. The Treasury has strong opinions about credit franking and feels that the SMSFs are tax-eluders, but it must be said that the same clause which allows SMSFs to enjoy tax rebates apply to the big Super funds, too.