Six Park partners with Heffron to launch transparent, low-cost SMSF solution

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Automated investment provider Six Park has announced it has partnered with leading independent self-managed super fund (SMSF) administration provider Heffron to offer a transparent, low-cost, digitally driven, end-to-end SMSF service. The partnership allows SMSF trustees to establish an SMSF and take advantage of robo-advice for their fund, with Heffron managing the compliance and Six Park […]

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SMSFs as ‘wholesale clients’ or ‘sophisticated investors

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It can be beneficial sometimes for an SMSF to be considered a ‘wholesale client’ or a ‘sophisticated investor’ in order to get access to investments that might not be open to ‘retail clients’. This may be because the promoter doesn’t want to go to all the expense and trouble of fully complying with the securities […]

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Regulatory change and global volatility keeping SMSF investor money on the sidelines

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Self-managed superannuation fund (SMSF) trustees have growing concerns on the impact of regulation and ongoing global volatility on their retirement plans with a growing number increasing cash reserves, according to AMP Capital. Findings from annual research undertaken by AMP Capital show that more than two-thirds (65 per cent) of SMSF trustees are keeping cash in […]

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Tips and traps appointing a corporate trustee for an SMSF

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There are very few SMSF specialists who don’t think that having a company as the trustee of the fund is preferable to having the members act as trustees individually. But once you’ve decided to take the plunge and change your trustee to a company it is vitally important that the change be done properly. Trustees […]

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Auditor says ‘safe harbour’ terms are mandatory – what now?

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Would an SMSF trustee decision not to adopt the safe harbour terms from the ATO’s Guidelines in relation to a related party loan breach the Superannuation Industry (Supervision) Act SIS (Act)? The ATO’s Practical Compliance Guidelines PCG 2016/5 (“Guidelines”) provide safe harbour terms which, if complied with, mean the related party loan will be treated […]

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The popular choice for new SMSFs: A corporate trustee

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A fundamental question for intending SMSF members is whether to have a corporate trustee or individual trustees for their new fund. More than 80 per cent of new SMSFs established in 2016-17 had a corporate trustee whereas 57 per cent of all SMSFs had a corporate trustee as at June last year, according to the […]

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Further developments on double stamp duty provisions for SMSF borrowing to buy property in NSW

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Last year in September we wrote about changes to section 18 of the NSW Duties Act which appeared to provide more flexibility to SMSFs borrowing to buy investment property and entering into Limited Recourse Borrowing Arrangements. The new arrangements seemed to allow a Fund Trustee to sign the contract of sale and then later incorporate […]

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Why claims SMSF borrowings are a danger to the financial system are misleading

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Once again, I have read claims that the ability of SMSFs to borrow money to buy property are a danger to the financial system and investors with SMSF are at risk of losing a large part of their retirement savings. A first glance of the numbers presented to support this argument seem to imply that […]

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Best to start LRBA in SMSF before July

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The proposal to include LRBA debt in total super balance is an incentive to start an LRBA before 1 July 2018 as existing LRBAs will be grandfathered. The proposal that the unpaid debt of an LRBA be included in the total super balance of the participating members is a good incentive to have LRBAs in […]

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SuperConcepts launches SMSF investment product marketplace

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SuperConcepts has announced the launch of a new online product marketplace called Connected Services, which allows SMSF members to access a range of products and services from third party providers to help manage their SMSF in a convenient and paperless way. CEO of SuperConcepts Natasha Fenech said, “We know paperwork and administration can be a […]

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