SMSF costs: How much does an SMSF really cost?

This article on SMSF costs was originally posted in The Australian, 13 July 2020 under the title “How much does an SMSF really cost? That depends on who you ask” What are the average SMSF costs? Even the regulators can’t agree on how much it costs to run a self-managed superannuation fund. The Australian Taxation […]

SMSF Physical Gold Investments: Bull Market 2020

Gold ends the 2020 financial year at record high as investors continue to accumulate precious metals. There are key underlying trends that are very important for SMSF physical gold investors to understand. UPDATE: July 2020 We are aware of media reports in relation to Environmental, Social and Governance (ESG) issues relating to Artisanal Smallscale Mining […]

SMSF borrowing levels are not a concern

The following letter to the Australian Financial Review on SMSF borrowing has been issued by John Marony, Chief Executive of the SMSF Association: SMSF borrowing misinformation In “Time to outlaw borrowing by self-managed super funds” (July 7) (PDF), Karen Maley has misinterpreted the latest statistics from the Australian Taxation Office (ATO) on the level of […]

Superannuation Contributions 2020-21

The new financial year often brings new rules and new strategies for superannuation and the 2020/21 financial year is no exception. The two key changes this year are: the removal of the work test for anyone aged 66 and 67 years old who wish to make non-concessional superannuation contributions 2020-21; and an extension of spouse […]

Average SMSF Costs and Fees

What are the average SMSF costs and fees? SMSF operating, administration and audit costs are a key consideration when you setup an SMSF. New data has been released from the ATO on the average SMSF costs and fees.  This new data is more detailed than previous high level statistics and provides reliably insight into SMSF […]

SMSF End of Financial Year Checklist 2020 for Trustees

This SMSF end of financial year checklist contains a number of key items for trustees to review and action prior to 30 June 2020. This 2020 end of financial year is slightly different due to a number of specific items related to COVID-19. Due to the size of this article we recommend you utilise the […]

Contribution and work test change for SMSF members aged 65 to 67

Recent changes to the rules around superannuation contributions including a work test change for people aged 65 and 66 have been made and come into effect from 1 July 2020.  The changes enable people aged over 65 years, but under 67 years old to make voluntary concessional and non-concessional contributions to superannuation without the need […]

2019 SMSF annual return lodgment date deferred to 30 June 2020

The Australian Tax Office has announced (22 April 2020) an automatic deferral of SMSF annual return lodgments for the 2018-19 financial year to 30 June 2020. To be clear, where an SMSF had an original lodgement date of 15 May 2020, the 2019 SMSF annual return lodgment date is deferred to 30 June. <!–more–> <h2>2019 […]

$10,000 Coronavirus Superannuation Payment

Those suffering hardship due to the Coronavirus pandemic will be able to access a $10,000 Coronavirus superannuation payment this financial year 2020, and another $10,000 next financial year after 1 July 2020. The payments are expected to be available from 20 April 2020 and will be able to be applied for online via myGov or […]