As with other aspects of Self Managed Super Funds there are rules around who can be a Trustee or Director of your SMSF. This article explains some of those Trustee rules. Who can be a member and who can be a SMSF trustee? An SMSF can have no more than 4 members at any one time […]
Online source: Produced by AMP Life Limited and published on 23 March 2015It can be hard to know where to start or what’s ahead when you embark on setting up your own self-managed super fund (SMSF). The good news is AMP can help you every step of the way: Start with financial advice An SMSF isn’t […]
SMSF Insurance PlanOnline Source: CommInsure SMSF plan, September 2013Trustees have a legal obligation to consider holding insurance to provide cover for their members should serious illness or injury occur. Since 7 August 2012, trustees of self-managed super funds (SMSFs) must also consider and document the insurance needs of their members as a part of their […]
Being able to own property directly through an SMSF also has its appeal, as does the ability an SMSF gives you to move quickly and change your investments in response to changing markets. There are also good estate-planning opportunities, which can give trustees a greater level of certainty over who their super will go to when […]
Here is a list of 5 Steps which will ensure that your SMSF is tax-ready!1. Give noticeIf you’re planning to claim a tax deduction on your personal super contributions, you’ll need to complete a Notice of Intent with your personal income tax return. You can download this form from the Australian Taxation Office website. And […]
Self-managed super funds have become a popular way for Australians to build their retirement savings.Those members collectively hold more than half a billion dollars in superannuation assets, approximately 16% of which is invested in direct commercial and residential property.Property, along with Australian shares (32%) and cash and term deposits (28%), make up the bulk of […]
Are you ready to take full control over your super?Self managed super funds (SMSF) have become a popular way for Australians to build their retirement savings.In fact they’re now the fastest growing part of the superannuation market, with more than one million of us being members of an SMSF.Thousands of SMSFs are being established every […]
Here are 5 Ways to Reduce Taxes on your Self-Managed Super Fund! 1. Nomination of beneficiaryBy nominating a spouse, minor child or financial dependent as a beneficiary, the family can avoid the payment of tax on a lump sum death benefit. One common trap is nominating the estate as a beneficiary, and as a result having superannuation […]
Before you set up a self-managed superannuation fund (SMSF) you need to ensure you are eligible to be a member and trustee, and understand your responsibilities. Who can be a member? Essentially anyone can be a member of an SMSF provided they are not an employee of another member unless they are related to them, […]
