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New Penalty Regime for SMSFs from 1 July 2014

A new Penalty Regime for SMSFs will apply for contraventions that occur on or after 1 July 2014.   The new measures will provide the ATO, as the Regulator of SMSFs, with greater flexibility when dealing with a fund’s non-compliance with the law.   Where an...

Younger investors now entering the SMSF market

Super funds are no longer viewed as an investment vehicle for individuals either in or approaching retirement.  The next decade in the superannuation segment will be Gen X and Gen Y’s as they build for their retirement.   Australia is currently experiencing a...

Lost Super

The Australian Taxation Office (ATO) advise that there is more than $14 billion in lost super waiting to be claimed.   The Australian Commissioner, John Shepherd, advises that the main reason for the lost super was because many of the superannuation accounts have not...

Growth of Self Managed Superannuation Funds (SMSF)

The latest statistics from the ATO statistical report for June 2014 indicate; 1. The number of SMSF’s have increased to more than 534,000. An increase of over 6%, 2. The total asset of all SMSF’s are estimated to total more than $557 billion. An increase of 12.5%. 3....

Estate Planning and Binding Death Benefit Nomination

There is no doubt that Self Managed Superannuation Funds (SMSF) have estate planning advantages over retail and industry funds. The primary reason that members establish SMSF is to have more control over their superannuation rather than leaving it all in the hands of...
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