Self Managed Super Funds

One overarching fundamental that SMSF trustees should ideally keep in mind is the sole purpose test – that is, every decision made and action taken is required to be seen as being undertaken for the sole purpose of providing retirement benefits for the fund’s members. lf an SMSF trustee incurs an expense in the usual operation […]

A not-uncommon conundrum for many SMSF trustees is what to do when the fund is found to have breached the in-house asset rules. There are also some common misconceptions about these regulations that keep resurfacing. WHAT DOES THE ATO SAY IN RELATION TO THE IN-HOUSE ASSET RULES? Recent ATO statistics on the SMSF sector show […]

One investment option that has surfaced relatively recently, and that SMSF trustees may consider   as a part of their strategy to grow their fund, is investing through peer-to-peer lending. Peer-to-peer lending involves an investor –  a trustee of  the SMSF in this example – providing funds to an online lending platform. This platform, which must have an […]

Recent legislation introduced several superannuation rule changes. Among them is a new “transfer balance account”, which each recipient of a superannuation pension will be required to have. In other words, individuals receiving superannuation income  stream benefits will need to keep such a transfer balance account. The use of “accounts” for tax law purposes is not new. […]

The rules around the valuation of assets held under an SMSF have seen a lot of changes over  the years. The requirement  to  consider valuing SMSF assets at market value when preparing the annual financial statements of the fund was one of the most significant and controversial of these changes. The use of market value accounting for […]