Super Information

Superannuation CategoryThese days, keeping up with changes to superannuation legislation is as challenging as staying on top of Australian tax law - it's always changing!

Below you will find information, updates, tips and articles related to superannuation, whether you are in an industry fund or you have your own SMSF.

SMSF compliance focus for 2016-17

The ATO has announced the approach it intends to take over 2016-17 with regard to SMSF compliance. It says trustees will see some key shifts in the ATO’s emphasis, both in terms of the activities it undertakes and the levels of enforcement action it applies. The ATO says its key focus areas will be: to […]

Setting up an SMSF: What you need to know

There are tempting tax incentives for Australians to save for their retirement via the superannuation system, with an array of choice between superannuation funds that can manage your savings for you, but also the do-it-yourself option of a self-managed superannuation fund (SMSF). Managing your own retirement savings however is a huge responsibility and one that […]

Is an SMSF right for you?

Do-it-yourself superannuation, in one form or another, has been around for about 30 years. But it has only been over the last few years that SMSFs have made an indelible mark on Australia’s retirement savings landscape. The SMSF sector now claims a bigger slice of the super pie than it ever has, in terms of […]

Departing Australia superannuation payment (DASP)

Every year, temporary residents who worked in Australia leave behind millions of dollars in superannuation. Whether they’ve been slogging away behind a backpacker’s bar in Coogee for six months, or decided to quit their job, sell the car and move to Peru, their employer has been putting money aside for superannuation. Among sorting out all […]

Your ‘lost’ super could be costing you money

A recent report from the Federal Treasury said there were around six million “lost” superannuation accounts holding a total of about $18 billion as at mid 2014. This figure represents roughly one in five of every superannuation account. A lot of working Australians may not even know that there could be super money out there […]

Couple de-coupling: specific complications for SMSFs

  There is a unique problem with self-managed superannuation funds (SMSFs) when it comes to marriage breakdown and splitting assets upon divorce, and it is a problem that could become more common. First, some salient facts to consider. Most of the 539,375 SMSFs in Australia are two-person funds (69.5% of them, according to the latest […]

The differences between concessional and non-concessional SMSF contributions

Making payments into your self-managed superannuation fund (SMSF) with pre-tax dollars is labelled making “concessional contributions”. These payments to your super fund include the compulsory 9.5% super guarantee paid by employers, salary sacrificed amounts and personal contributions for which you can claim a tax deduction (like those made by the self-employed). If you’re aged 48 […]

Your SMSF’s investment strategy

The majority of people who set up their own SMSF say that “control” is a big reason for doing it. There is flexibility and benefits in running your own superannuation fund, but it is also a big responsibility to make sure your fund grows and provides for your retirement. Preparing an “investment strategy” is one […]

SMSF estate planning: Death benefit nominations

Establishing an SMSF is a clear sign that you know the importance of planning for the future. But one other important consideration is to make sure you also plan for “after” the future – that is, for the time beyond your own lifetime. With so much money tied up in superannuation, and more and more […]

SMSF compliance regime for the upcoming year

This year, the Tax Office will be turning its attention to the following emerging risks within the self-managed superannuation fund (SMSF) sector. Ensure you do not partake in any of the practices below or risk being caught in the Tax Office’s net. Dividend washing Dividend washing is a share trading strategy that enables a taxpayer […]