SMSFs

Ending your working life and starting retirement can be stressful. To help you adjust to a completely new way of life, The Golden Times suggests these titles are well worth a read.

The SMSF Association is taking up the cudgels for a more simplified SMSF sector, with Transfer Balance Caps, ISuper Balance and the rules overseeing the notice of intent to claim a tax deduction in its sights.

LRBAs allow self-managed super funds to borrow money for property acquisition while protecting other assets. According to SMSF specialist Heffron, these investments offer growth opportunities, but following the rules is crucial.

While recent studies estimate the total savings needed for retirement at about $1 million, specialists caution against a one-size-fits-all approach, and many Australians could be “comfortable” on less.

The proposed tax on super balances exceeding $3 million is still flawed and should not be legislated in its present form, the peak body representing self-managed superannuation funds said, imploring Senate cross-benchers to ice the bill.

Planning one’s legacy involves a series of strategic decisions to protect and distribute assets efficiently – and with a record $3.5 trillion set to change hands over the coming decade, it’s key to Australia’s future financial security. Here, we explore tips to help investors optimise their wealth transfer outcomes.

The government’s plan to increase taxes on super balances above $3 million will have a costly impact on the SMSF sector, with thousands of members likely to face liquidity stress, according to new research from the University of Adelaide’s International Centre for Financial Services.

The government’s plan to include unrealised capital gains in earnings calculations when it doubles the tax rate for super balances above $3 million is “flawed policy”, according to the SMSF Association. It says there’s an easy fix.

The plan to align the tax treatment of off-market share buybacks with that of on-market buybacks puts smaller companies, self-funded retirees and retail investors at a disadvantage, according to portfolio manager Scott Kelly, who worries the proposed changes are “just the beginning”.

Investing in property within a self-managed super fund offers the potential for substantial tax savings, but it’s not for those lacking property market experience. Sophisticated investors should consider several key factors, including costs and compliance, to ensure success within their SMSFs.

In a review of financial product issuers’ compliance with requirements meant to ensure complex and high-risk investments are kept out of the wrong hands, the regulator found room for improvement – and reminded issuers of its enforcement powers.

Following the Labor government’s decision to shelve a program meant to streamline and modernise Australia’s business registry system, the SMSF Association has argued for keeping “key aspects” of the scheme that would have meant material improvements for corporate trustees and the SMSF sector.