An ATO message lands in your SMSF’s inbox. It tells you to pay a set amount from a member’s account to the ATO, and you have 10 business days to pay it and report back. That’s a release authority. The ATO has reported that about a quarter of SMSFs that receive one don’t respond. This post explains what triggers them and how to handle one. What is a release authority? A release authority is a notice from the ATO directing your fund to pay a specified amount from a member’s sup

October is a deadline month for a lot of SMSF Trustees. The ATO estimates that there could be up to 100,000 overdue SMSF Annual Returns. Many may also have been dropped off their Tax Agents list because they have been trying to reach them but have received no response. If last year's return (or the year before, or the year before that) is still outstanding, that deadline is about to make things worse, not better. Here's what actually happens when an SMSF lodgement falls over

Increasingly, we are being referred SMSF Trustees with multiple years of outstanding SMSF Annual Return lodgements. Often, there is no urgency, and sometimes there’s pushback when we quote our fee to get them back on track. It’s a common mindset: “It’s been a few years, and we haven’t heard from the Tax Office, so another couple of years won’t make a difference.” But let me tell you, this is a dangerous approach to SMSF compliance. Running your SMSF should be a compliance-fir

Setting up a Self-Managed Super Fund (SMSF) is a significant milestone for anyone wanting greater control over their retirement savings....

Managing a Self-Managed Super Fund (SMSF) gives you incredible control over your retirement savings. But with that control comes...

If you ever need to make a claim on your SMSF insurance policy, your main focus will be on getting approved and receiving your payout....

The Australian Taxation Office (ATO) provides guidelines on what an SMSF can invest in. Here's an overview of the common investment...

During the Establishment process for your Self-Managed Superannuation Fund (SMSF), the first thing you need to think about is the...

As the government imposes more and more regulations on SMSF financial advisers and accountants, it seems like a good time to contemplate...

Exactly what is required in respect of an SMSF Investment Strategy can be a source of confusion for SMSF Trustees. During the...

Using an SMSF to buy property either with cash or via a Limited Recourse Borrowing Arrangement is an increasing popular choice for...

As the end of the financial year approaches, it’s crucial in your role as trustee of your Self-Managed Super Fund (SMSF), to ensure that...

A Self-Managed Superannuation Fund (SMSF) can be a superannuation vehicle for life.

Your SMSF Investment Strategy is the next most important reference document after your SMSF Trust Deed. It sets out your investment...

If you are one of the more than 10% of SMSF’s who have an LRBA or you are currently considering one, then better understanding them and who you need on your team to help manage them can be useful to keeping them compliant. An LRBA is a separate legal structure whereby an SMSF can utilise leverage to increase its investment base. A popular strategy among the many SMSFs with LRBA’s is to purchase their business premises by using their existing super together with borrowings. As

When things are running smoothly for an SMSF, investments doing well, no compliance issues and minimal changes being made it would seem...

It may not be the most pleasant of things to contemplate but considering your ultimate financial legacy and discussing this with your...

With the end of the financial year approaching, it’s time to get your SMSF in order and perhaps avoid any unintended compliance issues....

One of the key ways to do this is to understand your SMSF's trust deed.

The recent bugbear for SMSF Trustees has been the increased scrutiny from their Auditor when it comes to obtaining valuations of their...