SMSF insights

Got a Self-Managed Super Fund (SMSF)? We know how complex — but profitable — it can be to administer an SMSF for yourself or clients. That’s why our leading research and news for SMSF trustees, advisers and beneficiaries attract hundreds of daily readers from around Australia. Here’s the latest SMSF research and news from the experts on The Inside Network. Don’t forget to click here and subscribe to our mailing list to get the news that’s important to you.

ATO clarifies SMSF borrowing arrangements

The Australian Taxation Office (ATO) has set out the test it will apply when determining whether an “intermediary limited recourse borrowing arrangement” is an in-house asset of a self-managed superannuation fund (SMSF). The ATO has issued a legislative instrument to…

The set-and-forget template is dead

The changes to valuations in SMSF trustee portfolios as a result of the COVID-19 outbreak marks an appropriate time to review their investment strategy. A review of the investment strategy document in this context does not need a complete rewrite.…

AFCA sets benchmark for SMSF advice

If financial advice is provided to an SMSF it is important that the adviser consider both the personal circumstances of the members and of the fund itself, the ombudsman has ruled. A husband and wife, both directors of a self-managed…

SMSF annual return deadline extended

The Australian Taxation Office has deferred lodgement of self-managed super fund annual returns. The ATO says returns due on 15 May and 5 June are now due on 30 June. The tax office says there is no need for a…

ATO’s SMSF rent relief needs to be fleshed out

The Australian Taxation Office needs to provide greater clarity about its announcement that it will not take compliance action if a self-managed super fund landlord gives a tenant a temporary rent reduction to a related party, a leading SMSF consultant…

Tenancy issues a concern for SMSFs

The Government is urging the owners of commercial property to work out arrangements with tenants whose businesses are struggling as a result of the COVID-19 crisis. But for trustees of self-managed super fund that own property, there are added complications;…

SMSF trustees need to get property development right

SMSF trustees need to take extra care after the tax office has stepped up its monitoring of property developments saying it is concerned that such arrangements may be inappropriate. It is paying particularly close attention to arrangements that involve limited…

Get returns in on time, ATO warns

The Australian Taxation Office (ATO) is warning self-managed superannuation trustees and their advisers that lodging annual returns late will result in a change to an SMSF’s fund status, risking their retirement savings. The harsh consequence is in response to nearly…

Contribution rules eased for older Australians

The Government has released a draft bill for consultation, outlining measures to provide greater flexibility in the superannuation system for older Australians. The bill includes three changes: • the age at which the work test starts to apply for voluntary…

Super guarantee amnesty may trigger cap breaches

Employees run the risk of exceeding their concessional contribution caps if they receive payments under the Government’s new superannuation guarantee amnesty. Under the law implementing the amnesty, which was passed late last month, employers will have six months to correct…

CONTACT US

Sydney: +61 2 9247 8533
Melbourne: +61 3 8414 2901
Sydney: Level 2, 75 Elizabeth Street, Sydney NSW 2000
Melbourne: Level 4, 125 Flinders Lane, Melbourne Vic 3000

Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
Free today.
Join Inside Network's exclusive community to receive commentary and content from the select top fund managers, journalists and economists in Australia. Unsubscribe anytime.
ErrorHere