SMSF Trustee Trends – What Should You Look Out For?

As of June 2017, SMSFs (Self Managed Super Funds) are responsible for the largest portion of super funds in Australia. As of March 2017, there were approximately 1.13 million SMSF trustees running well over half a million (596,516) SMSFs. So what are the current SMSF Trustee trends ? Nearly two-thirds of trustees are over 55, but, the dominance of this age …

SMSF Recontribution Strategy

Super Re-contribution Strategies

Your superannuation fund is made up of taxable and non-taxable components. Contributions made to your fund on which you have already paid tax will make up the tax-free elements. These after-tax contributions are referred to as non-concessional, meaning that tax cannot be paid on these funds when withdrawn. When withdrawing lump sums from superannuation, it must be done in accordance …

Lost Super

How to find lost super

One of the most common things we hear is that someone has lost their super – in other words, they have superannuation accounts that they no longer remember or have the details of and no longer contribute to. If you think this might apply to you, there are ways to relocate your lost super. And it’s important to find your …

smsf sole purpose test

SMSF Sole Purpose Test

The sole purpose test is a test the ATO uses to ensure that SMSF trusts are operating with the intention of only benefitting from their funds through the sole purpose of either retirement or in the event of a member’s death. While the way that an SMSF manages its investments is not ruled by the ATO, it does have some …

Updating Your SMSF Trust Deed

It is important to have a robust and up-to-date trust deed for your SMSF. Over the years there have been many changes to government requirements around how SMSFs are managed. Whenever the government make changes to SMSF regulations or requirements this is an essential time to check your existing trust deed for your SMSF and ensure it is compliant. Currently, …