SMSF Tech

Hayne recommendations will impact SMSFs

In the self-managed superannuation sector, a common response to the final report of the Financial Services Royal Commission is that it is of little consequence for SMSFs. But one industry expert disagrees. Peter Burgess, general manager technical services and education…

Q&A 18 February 2019

Q: I have a few superannuation funds floating around and I am thinking about consolidating them. Why should I do this and how do I go about it? A: The Australian Taxation Office assisted 66,000 people in locating and consolidating…

SMSFs lose faith in the blue chips

Self-managed super fund trustees have dumped their investments in Australia’s top 10 listed equities as performance has failed to meet expectations. The proportion of funds that held Telstra in their portfolios dropped from 50 per cent in the December quarter…

Q&A 11 February 201

Q: I read that some tax agents got into trouble for not passing on tax refunds to their clients. How do I make sure I get what is due to me when I use a tax agent to prepare my…

Know the rules for personal contributions, ATO says

Super fund members who plan to claim on personal contributions must ensure they have sent a notice of intent to claim or vary a deduction for personal super contributions and have received an acknowledgement from their super fund. The Australian…

Know the rules for personal contributions, ATO says

Super fund members who plan to claim on personal contributions must ensure they have sent a notice of intent to claim or vary a deduction for personal super contributions and have received an acknowledgement from their super fund. The Australian…

Q&A 4 February 2019

Q: I have recently invested in Australian Foundation Investment Company (AFIC) and have encountered an unusual choice between a dividend reinvestment plan (DRP) and a dividend substitution share plan (DSSP). What is the difference between the two and how do…

Courts underline SMSF auditor obligations

A court has ruled that an SMSF auditor breached his duty of care and was negligent in handling the affairs of an SMSF, which suffered losses after making investment that were linked to the personal interests of the trustee’s financial…

Q&A 29 January 2019

Q: I was talking to a financial planner about life insurance and she was explaining that commission rates changed at the start of the year. I was not clear on the details. Can you explain? A: Under life insurance rules…

PC report puts SMSF members on notice

Around one-third of self-managed super fund members are in funds charging high fees and delivering relatively low returns. And while fees for other types of super funds ae going down, SMSF fees are going up. The Productivity Commission’s landmark report…