Self Managed Superannuation Funds Collectables SMSF—investment in collectables and personal use assets. The regulations may prescribe rules in relation to the trustees of regulated superannuation funds that are self managed superannuation funds making, holding and realising investments involving: To Read More Click Link Below EXPOSURE DRAFT – SMSF INVESTMENT IN COLLECTABLES AND PERSONAL USE ASSETS

Setting up SMSF Investment Strategy The trustees of an SMSF are required to prepare and implement an investment strategy for the superannuation fund. The strategy must reflect the purpose and circumstances of the fund and take into account: Trustees must make sure all investment decisions are made in accordance with the documented investment strategy of […]

SMSF independent auditor’s report 2011 The Self-managed superannuation fund independent auditor’s report (NAT 11466, RTF 345KB) are instructions and a form that you should use if you: –          are an approved auditor, and –          have been appointed by a trustee of self managed superannuation (SMSF) to give a report on the operation of that fund for each […]

What SMSFs can expect from the 2011-12 compliance program ATO Commissioner Michael D’Ascenzo launched the ATO’s new SMSF compliance program on 30 June 2011. While ATO continue to work with SMSFs to fix genuine problems, ATO also take firm action, including making funds non-complying, if they commit serious breaches of the rules. This year, ATO […]

Self Managed Super funds why use Market Valuations Australian Taxation Office Superannuation Circular 2003/1 Introduction1. The Australian Taxation Office (ATO) intends that self managed superannuation funds should use market values for all valuation purposes. This includes valuations for determining the purchase price of a pension and the use of market value accounting for all financial […]