The decision to implement a corporate trustee or individual trustees is one every SMSF faces. Both structures have pros and cons, making the decision-making process a case-by-case proposition. As of 30 June 2020, ATO statistics revealed 63% of SMSFs had […]
In recent years, the rise of illegal phoenix activity has become a primary concern of regulatory bodies. As per ASIC’s definition, illegal phoenix activity occurs when a new company, for little or no value, continues the business of an existing […]
Pink diamonds are an item which are becoming more and more prevalent in the contemporary market, particularly in Australia where more than 90 percent of the world’s supply of natural pink diamonds are produced in the Argyle Mine in Western Australia. From an SMSF viewpoint, holding […]
COVID-19 (the ugly beast we just can’t seem to shake) is doing a whole lot worse than just affecting businesses. A June 2021 survey conducted by the Australian Bureau of Statistics found that one-in-five Australians are experiencing high or very […]
The ATO has recently announced that trustees are required to confirm the market value of any properties held by their SMSF each year. This doesn’t necessarily mean a new valuation is required each year, however, if the trustees wish to […]
Cryptocurrency has been a hot topic in the news of late. The surge in the price of Bitcoin between June 2020 & March 2021 has piqued investors wishing to explore new and unusual wealth-growing methods. The lucrative nature of crypto […]
From 1 October 2021, SuperStream will become mandatory for all self-managed super funds to rollover super to or from their funds. With less than 60 days left until the implementation of the compulsory SuperStream, now is the perfect time to ensure your SMSF is well-prepared to make the […]
From 1 July 2021, the maximum number of members eligible to form part of a self-managed superannuation fund (SMSF) and small Australian Prudential Regulation Authority (APRA) funds has increased from four to six. This change stems from the Treasury Laws […]
The trustees of a self managed superannuation fund (SMSF) are prohibited from intentionally acquiring an asset from a related party of the fund, except for assets permitted under s.66(1) of the SIS Act. It is important to note that this […]
2021/2022 Federal Budget Summary After a few quiet years in the SMSF space, the 2022 Federal Budget has provided some major – member friendly changes that provide a lot of positives to trustees. Below is a summary of what to expect in relation to SMSFs: Work Test Removal & […]
