Expanded Super Reporting Revised reporting obligations will require superannuation providers to provide statements to us for all members who held an interest in the superannuation plan at any time during a reporting period, not just those for whom contributions were receive The purpose is to support a range of super reform measures, including enhanced online […]

Self-managed super fund statistical report – September 2012 SMSF population table – annual data This table contains details of the number of SMSFs that were established or wound up during each financial year. Establishment date is the date when an SMSF is deemed by the super law to come into existence and can be different […]

Collectables and personal use assets – questions and answers Overview On 1 July 2011 rules were introduced into the Superannuation Industry (Supervision) Act 1993 (SIS Act) for self-managed superannuation fund (SMSF) investments in collectables and personal use assets. These rules took effect on 1 July 2011. They apply to all collectable and personal use asset […]

Valuation guidelines for self-managed superannuation funds This guide is designed to help you as a self -managed superannuation fund (SMSF) trustee when valuing assets for super purposes. It is not a comprehensive handbook about valuations. This guide does not take away your responsibility to manage investments prudently. You must ensure the fund’s investment strategy is […]

Applying for an ABN for Self-Managed Super Fund Applying for an ABN for Self-Managed Super Fund The ATO has issued a fact sheet setting out how superannuation entities should apply for an ABN (NAT 2944). The fact sheet also contains the instructions for completing the application, with funds able to apply for an ABN either via the Australian Business Register at abr.gov.au, […]

Maintaining a healthy SMSF sector – Improving the quality of advice Maintaining a healthy SMSF sector – Improving the quality of advice ASIC today released Report 337 SMSFs: Improving the quality of advice given to investors (REP 337). The report summarises the findings from the first major project undertaken by ASIC’s Self-managed superannuation fund (SMSF) taskforce. Key […]

SMSF supervisory levy fact sheet SMSF supervisory levy fact sheet Up to 1 July 2013, the SMSF supervisory levy is payable for the financial year to which the self-managed super fund annual return (SAR) relates. From 1 July 2013, the levy will be payable for the financial year in which the annual return is due – for […]

SMSF trustee – individual or corporate ? There are two different trustee structures for a self-managed super fund (SMSF). They are: The following table outlines some of the issues relevant to each structure: Consideration Individual Trustee Corporate Trustee Cost Ongoing administrative requirements and establishment costs can be less for individual trustees than those associated with […]