SMSF registration not a foregone conclusion

The Australian Taxation Office is taking a more rigorous approach to assessing SMSF registrations, as it seeks to impress on trustees that they are taking on a fiduciary responsibility. Tara McLachlan, acting assistant commissioner, SMSF segment, at the ATO, says…

SMSFs jump into the SuperStream

Self-managed superannuation funds will soon be handling some of their transactions through the SuperStream standardised electronic processing system that large funds use. The Government has released a draft of regulations that will extend the use of SuperStream to include self-managed…

Bigger SMSFs may not be better

Self-managed superannuation commentators have been tossing up whether bigger SMSFs are a good idea, since the Treasurer announced in the Budget that funds would be able to have a maximum of six members – up from four currently. There are…

Satisfaction is a question of balance

The size of your superannuation fund account has a lot to do with your level of satisfaction with your super arrangements, whether you are in an industry fund, a retail fund or an SMSF. New research by Roy Morgan Research…

Mixed reception for Labor’s dividend policy change

The Labor Party has made changes to its controversial dividend franking rebate policy, in a bid to make the policy fairer. It has not satisfied its critics. Labor issued a “pensioner guarantee” to protect pensioners from its proposed changes. The…

SMSFs increase holdings of growth stocks, international funds

SMSF investors are looking for higher growth and they are prepared to accept more risk, according to a CommSec report. CommSec says that typically, SMSF investors rely heavily on top 20 ASX stocks for high yields, franking credits and the…

Kavanagh

The Labor Party’s proposal to rein in the use of dividend imputation by cancelling rebates for excess franking credits has been widely criticised. However, the idea is unlikely to go away and one commentator, actuarial consultant Rice Warner, has suggested…

Kavanagh

SMSF investment return data released by the Australian Taxation Office last week shows that SMSFs performed as well as APRA funds during the period under review. That’s the good news. The bad news is that close to half of all…

Q&A 4 December 2017

Q: I have a residential investment property in my self-managed super fund. I am a bit confused about new rules that will tighten up on rental property deductions. I have read varying commentaries, saying that they do and do not…

All SMSFs must lodge a tax return, even if they are in pension phase

The Australian Taxation Office has issued a reminder to trustees of self-managed superannuation funds in pension phase that they must still lodge a tax return. And it has warned that SMSFs that do not lodge returns, even if the members…