Author: admin
2018 Federal Budget
The definition of a SMSF will be changed to have a maximum number of members from the current 4 to 6. This may provide opportunities for family’s or business partners to expand there SMSF’s giving greater flexibility to the structure. Note: Cooper Grace Ward Lawyers have recently pointed out that Trust legislation in Queensland, New South […]
Classic Car in your SMSF
Is a Classic Car allowed as a SMSF Investment? I received an email the other day which asked. Are we able to purchase a classic car within our super still? Classic Cars can be purchased by a Self-managed Superannuation Fund (SMSF) provided they provided they are purchased and held in accordance with the superannuation legislation. Firstly, […]
the new $1.6 million transfer balance cap
Amongst those changes introduced in the 2016 Budget was the $1.6 million transfer balance cap which limits the tax exemption for assets funding superannuation pensions. This new limit on superannuation will apply from 1 July 2017 and creates additional responsibilities for SMSF trustees. The main issues you need to be aware of are: All super fund […]
When is an Actuarial Certificate Required?
In an address to the Tax Institute in March 2015 Matthew Bambrick, ATO Assistant Commissioner for Superannuation, presented ‘some guidance around calculating and reporting ECPI (Exempt Current Pension Income). The common industry practice of Segregating Assets part way through the year and not obtaining an actuarial certificate was singled out as needing to change.Andy O’Meagher, Actuary and Director of Act2 […]
Your Children in your SMSF
The average Australian SMSF has 1.8 members, less than 10% of these have more than 2 members within the fund. This in term collates with other research, suggesting that SMSFs, are now becoming the ‘Mum and Dad Fund’. Over the past decade, we have seen an increase in the diversification of different age groups amongst SMSF […]
SMSF Investment
SMSFs offer members great benefits and incentives. Essentially, the amount of investments in which you elect to hold is entirely up to you and the diversification of your investment strategy options are almost limitless. It is vital that you ensure that your SMSF investments are being used for the sole purpose of providing retirement benefits […]