The recent ATO ID 2015/17 – released 5 June 2015 – sets out the ATO view that a Super Trustee can choose to claim a deduction for the “future service portion” of the death benefit and this choice can be made after the member has died. The choice must be made in the tax return […]
SMSF
SMSF Estate planning: Seven estate planning issues to address for your SMSF
Here are seven estate planning issues to address for your SMSF: 1. Consider what ‘Armageddon’ is for your SMSF What is your fund’s ‘Armageddon’, or worst case scenario? This will be subjective for each SMSF. For example, in a ‘husband and wife’ fund where the wife always left the running of the fund to her […]
ATO confirms that a rollover/benefit transfer to an SMSF will be treated as a contribution for the purposes of the active member-test
The ATO has confirmed the long held view that a rollover/benefit transfer to an SMSF in respect of a member will be treated as a contribution for the purpose of applying the active member test. This test is one of three tests which is used to determine whether a complying superannuation fund has lost its […]
Put a ‘put’ in place to protect the downside risk for international stocks
Insync has raised protection to cover majority of portfolio throughout 2014 Insync believe that investors should increasingly focus on preserving the return Insync Fund Managers dynamically implements index put strategies to protect its international equities portfolio. As the markets have significantly recovered from their 2009 lows and valuations on many equity markets are high […]
Can my SMSF enjoy the Land Tax threshold?
What is land tax and how much will it cost me? Land tax is a tax payable by owners of land on the value of all taxable land they own as at midnight on 31 December of each year in NSW. The rate for the 2014 tax year is $100 plus 1.6% of the land […]
Be wary of discount SMSF products — trustees hit with heavy penalties for poor product choice if they are not careful in ensuring SMSF compliance
No such thing as a free lunch – Be wary of discount SMSF products New SMSF ‘speeding fines’ penalties could see trustees hit with heavy penalties for poor product choice if they are not careful in ensuring fund compliance They say the best things in life are free, however a recent ASIC investigation has revealed […]
Problems for advisers with some budget solutions to complex SMSF client needs
Collapse of online document provider (Charterhill) recently highlights the problems for advisers with some budget solutions to complex SMSF client needs Advisers face reputation risk and PI risk in recommending providers who may not be ‘in for the long haul’. With over 90 changes in SMSF laws, regulations and practices in last year alone, it’s […]
Do SMSF’s really need a minimum balance?
With all the debate recently in the AFR and elsewhere about minimal amounts required to start or run an SMSF, I asked my client John McIlroy at Crystal Wealth Partners for an opinion: “We’ve been down this road before about minimum balances inside SMSFs and it is very clear that you can’t have a minimum […]