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The ATO’s 2017-18 Statistical Overview of SMSFs shows the median “operating expense” of SMSFs is $3,923 a year, a more appropriate indication of their basic operating cost compared with the $13,900 total average expense figure highlighted in a recent SMSF Fact Sheet. SMSF Association CEO John Maroney says: “We welcome this latest data from the ATO on […]

The SMSF Association Technical Day will be bigger and better in 2020 – COVID-19 notwithstanding. The addition of a concurrent stream means there will be more sessions delivered than ever before and the line-up of speakers is the most impressive ever assembled for a Technical Day. The virtual event, to be held on 29 July, […]

The Government’s commitment to increase the age when the work test starts to apply from 65 to 67 and the age limit for spouse contributions from 69 to 74 before 1 July 2020 has the full backing of the SMSF Association. The amendments to the SIS Regulations give effect to the first two elements of the 2019-20 […]

The Federal Government’s $130 billion JobKeeper payment announced yesterday, when coupled with earlier measures in response to the economic fallout from COVID-19 (coronavirus), will provide vital support to small business owners, many of whom have self-managed super funds (SMSFs). The SMSF Association CEO John Maroney says: “The $130 billion package, the third assistance tranche announced […]

The SMSF Association supports the Federal Government’s latest stimulus package announced today, particularly those measures that will assist self-managed super fund trustees cope with the economic and social upheaval caused by COVID-19 (coronavirus). SMSF Association CEO John Maroney says: “The country is in unchartered waters, so we fully endorse the new measures the Government has […]

The Government’s decision to draft laws to assist Australians aged 65 and over to boost their retirement savings has the full support of the SMSF Association. The proposed legislation, which will amend the Superannuation Industry (Supervision) Regulations 1994, will allow people aged 65 and 66 to make voluntary contributions without meeting a work test and […]

The draft legislation that seeks to implement the Financial Services Royal Commission recommendation to outlaw the “hawking” of financial products has the backing of the SMSF Association. As part of its 14-page submission to the Financial Services Reform Taskforce on the proposed legislation to implement 22 Royal Commission recommendations, the Association says: “Financial products should […]