On the 25th October 2022 the Labour Government handed out its first Federal Budget outlining how it aims to deal with the ever-changing economic climate. With regards to the SMSF sector, it was a relatively quiet budget, however the announcements […]
Picture this – you’ve lived in your family home raising your kids and getting them through school. It had all the room you needed for your family and suited the lifestyle. You’re now older, the kids have moved out and […]
There comes a point in time where a member of an SMSF wants to access their hard-earned retirement savings. Whether or not you can withdraw money from your SMSF is dependent on your preservation status and whether you have met […]
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 […]
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 […]
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 […]
