When we talk about DIY super funds, our minds do not run over the small APRA funds (SAF) in general. By and large, the term ‘DIY’ in Super funds connote self-managed Super funds. The beauty of SMSF is that it allows you great flexibility in terms of your investment and gives you a very high degree of control over where you want to invest and just how much you want to invest. This is something that industry Super funds have missed all through.
Super News
Are SMSFs Not Paying Enough Tax?
Lately, there has been a lot of loose talk about SMSFs and how they are a used as a vehicle to avoid tax. Unfortunately, those talking about the issue are either way too ignorant or have their vested interests. Some are just using this avalanche of brickbats to vent their angst; after all, the SMSF wave hit the aspirations of many industry funds hard. So, all things said, is there any truth in the allegations? Are SMSFS not paying enough tax? Let us find out what an article on the Australian Financial Review has to say.
The Big Decision About Setting Up SMSF
Thousands of articles across the internet are devoted towards answering the question, “Is SMSF for you?” I won’t shy away from agreeing that I have myself spent a bit of energy talking about the subject over this website. So, let me just try reaching out to you on this matter with a different perspective.
Lifetime Caps to Replace Annual Concessional Contributions
An article on the website Super Review talks about a lifetime caps that could come to replace the annual concessional contributions ceiling. This way, individuals would be able to make greater contributions at the closing stages of their working lives without fearing penalties.
How to Avoid Being Duped By SMSF Frauds
For all its achievements, the SMSF industry has never quite been able to quash the tag of a “volatile industry”. This said, no one can contest how in quick time it has siphoned off a good deal of business from the other industry funds often leading to caustic attacks from the latter.
ATO Begins to Monitor SMSF Auditors Closely
There are definitely a few auditors who go about auditing a large number of SMSFs with paltry number of staffs. This and a lot more will be on the radar of the ATO as it begins to monitor the SMSF auditors.
