The development of SMSF Adviser

At a latest business presentation by the Associate Commissioner, Superannuation in Melbourne he made the subsequent comments;

“Throughout the past four years the amount of SMSFs has developed rapidly. As at the end of June 2013, there were just over an projected 509,000 funds, an maximize of about 40,000 funds in one year alone.”

“Assets under administration have grown to somewhere around $506 billion, holding steady at about a third of the now around $1.6 trillion in resources held in Australian superannuation.”

“The organization of new funds has far outpaced wind ups.  Of SMSF Adviser founded in the 10 years to June 2011, 90% are continue to operating.”

“The number of men and women who are members of SMSFs is approaching one million (963,852), or about 8% of the 11.6 million people of Australian super funds.”

“About one million Australians changed super funds last year and 6% of those shifted to an SMSF.”

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Development of SMSF - Self Managed Superannuation Funds

The latest research from the ATO record report for June 2014 indicate;

1. The amount of SMSF Adviser have increased to more than 534,000. An improve of over 6%,

2. The overall asset of all Self Managed Superannuation Funds are calculated to total more than $557 billion. An raise of 12.5%.

3. Investments held by SMSF less than limited recourse funding arrangements are now projected of $8.3 billion. Confined recourse borrowing agreement allow members to buy investment attributes with their superannuation monies.

To ensure that your SMSF is arranged and implemented correctly please contact Peter Quinn by presenting an online enquiry or calling us on +61 2 9580 9166 to book an obligation free appointment.

The details in this document does not take into accounts your personal objectives, financial scenario or needs and so you should consider its suitability having regard to these elements before acting on it. It is significant that your personal instances are taken into account just before making any financial determination and it is recommended that you find assistance from your financial adviser.


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Dos and Donts of SMSF Adviser

The latest share market movements has negatively impacted many people’s superannuation savings – taking more management of your financial future may be just what the doctor requested.

Self Managed Super Funds (SMSFs) may seem intricate initially, specifically if you are not aware of current legal guidelines.  Managed by the Australian Taxation Office (ATO), SMSF Adviser are expected by law to comply with income tax and superannuation legal guidelines as well as the fund’s Trust Deed.

Since most industry experts and business owners are already busy, it’s good to know that when it comes to taking care of your SMSF, professional service is available.

The DO’s

Prepare an investment strategy
Review your contribution strategy
Consider gearing within your SMSF

The DON’Ts

Don’t offer financial assistance to SMSF people
Don’t obtain residential property from a connected party

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Improve in the Range of SMSF Trustee Disqualifications

By way of track record men and women seeking to present for their retirement plan by applying a Self Managed Superannuation Fund need to follow the strict rules and regulations of the Superannuation Field (Supervision) Act 1993 (SIS Act).

It would show up from the latest Australian Taxation Office (ATO’s) annual statement that the number of disqualification of trustees has enhanced in the 2014 Financial Year by 33% when compared to to 2013, or double since 2012.

This would indicate that more trustees have breached the technical specs of the SIS Act or the ATO’s policing program of SMSF has increased substantially.

To assure that your SMSF is structured and implemented properly please make contact with Peter Quinn by submitting an online enquiry or calling us on +61 2 9580 9166 to book an liability free consultation.

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SMSF Adviser

Building a SMSF to purchase an financial commitment property has become a very popular technique. However, some of the finer information associated with the acquisition requires more time and analysis.

In our opinion the components most suited to a SMSF are properties with minimal ongoing and preservation cost and a higher gross rental return. Therefore, we are generally not in favour of properties like as penthouses or home units with high ongoing maintenance expense. We prefer the investment property not to have lifts, gyms and pools this only increased the ongoing preservation cost and reduces the net rental return.

When purchasing an investment property it is very significant to do the numbers and purchase it as an investment logically not sentimentally. You and your family are not able to live in a non commercial investment property owned by the SMSF, so the establishments and views of the investment are less essential than the property’s return on investment. In conclusion, we desire the property to be neutrally geared or confidently geared rather than negatively targeted.

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Superannuation changes in the Federal Budget

The 2011 Federal Budget made significant changes to superannuation measures that can possibly impact upon the way you manage your employee’s superannuation contributions, as well as your own. You should be alert of these so that you can support your employees in making conclusions related to superannuation.

Excess Concessional Contributions
For contributions made on or after 1 July 2011, taxpayers who infringement the concessional contribution cap by up to $10,000 may be able to request the return of the excess. This will then be taxed at their limited rate.

Employers will be demanded to include the volume of super contributions actually paid into employees’ super accounts on payslips. Super funds will also be needed to alert employees and employers on a frequent basis if regular payments cease.

Here at The Quinn Group our knowledgeable crew of Financial Planners, Accountants and Lawyers can provide you with the total remedy and assist you with all your superannuation needs.  If you have any inquiries with regards to these new modifications and how they may impact your business, contact Peter Quinn by submitting an online enquirer or calling us on +61 2 9580 9166 to book an obligation free appointment.

The information and facts in this document does not take into account your personal targets, financial situation or needs and so you should look at its appropriateness having regard to these aspects before acting on it. It is significant that your personal circumstances are taken into account before making any financial decision and it is advised that you seek assistance from your financial adviser.

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