Family SMSFs and Australia’s Intergenerational Wealth Transfer
Rolling family and succession planning, financial management and investment training into one, multigenerational SMSFs are a relatively new structure likely to play a key role in Australia’s intergenerational wealth transfer. We look at some of the considerations any family should pay when considering establishing a multigenerational fund or adding children to an existing SMSF. What […]
SMSF and Residency: The Do’s and Don’ts When Living or Working Abroad
Unlike members of retail super funds, there are some important considerations for self-managed super fund (SMSF) trustees living and working overseas. There are currently three primary residency conditions that must all be satisfied to keep your SMSF compliant. Rule 1. Establishment or Asset LocationTo maintain compliance with residency rules, the SMSF must be established in Australia, or at […]
Borrowing Money for Property Within a Self-Managed Super Fund
Using a Self-Managed Super Fund (SMSF) to invest in property is increasingly popular amongst Australians seeking to diversify their retirement savings portfolio – especially as super balances grow. Currently standing at over $50 billion, growth in the value of property held by SMSFs is the result of rising values of Australian real estate, combined with improved access […]
Superannuation Recontribution Strategies Explained
Depending on your situation, a superannuation recontribution strategy may offer a range of benefits, including significant tax savings. There’s been a significant rise in the popularity of recontribution strategies with those under 75 – regardless of their working status – since July 2022, when the work test was removed from superannuation contributions laws. What is […]
Splitting SMSF Contributions: A Smart Strategy for Spouses
Superannuation contribution splitting is commonly used by spouses to optimise conditions on individual limits within the tax-friendly superannuation environment. The strategy can be implemented within either APRA or SMSF funds, but only between spouses. It also refers to splitting only concessional (pre-tax) superannuation contributions to fulfil a range of financial strategies, including topping up a […]
Quality of SMSF Establishment Advice Under Assessment by ASIC
Following the release of a new information sheet in late 2022, ASIC is launching an investigation to assess industry compliance. Info Sheet 274: Tips for giving SMSF advice was released just over 18 months ago by the regulator to address substandard advice regarding the establishment of SMSFs. The primary objective of the new information sheet was to ensure […]
