My client wants their SMSF to buy shares in an unlisted company. My client won’t control the company so the in-house asset rules aren’t a problem but what else do they need to consider?

SuperStream is an electronic data exchange currently used by some funds to receive data about contributions & rollovers from other funds. Changes to the rules commencing on 1 October may mean more SMSFs need to become familiar with the concept.

Well things are really heating up in our preparation for the next Super Intensive Day on 14 October. We’re putting the finishing touches on some of our sessions but still just at the planning stages for others.

There was a time when “old people” rarely had SMSFs – in fact when Heffron first opened its doors in 1998, it was even rare to see funds that paid pensions. The situation in 2021 is profoundly different.

Australia’s retirement income system includes significant tax concessions for superannuation. However, the rules are complex and too often I see contribution strategies unravel with additional taxes payable. Here’s my top 7 tips to avoid problems.

My client is a beneficiary of their uncle’s estate. They are wondering if their SMSF can buy an asset from the estate?

As I wondered what to write for this month’s Meg’s Musings, I looked back over what I said around this time last year. I can’t decide whether it’s frightening or just uncanny that some of the issues that were top of mind back then remain a focus now.

No one is going to disagree – good record keeping is essential for any SMSF. But as the years click over and more work is undertaken online, it begs the question – do we still need to keep all those 'old records'?

A new financial year always brings a new “to do” list. With one month over already, we’ve put together a list of 6 tips that are easily forgotten.

A key ATO ruling (LCR 2021/2) was released today to update the original draft from 2019. It deals with the vexed issue of when transactions between a superannuation fund and another party potentially create non arm’s length expenses (NALE).

New rules allowing individuals to initiate a “bring forward” of future years’ non-concessional contribution caps up until the year they turn 67 (rather than 65) have finally passed. They will apply from 1 July 2020. What quirks should we watch?

Well one financial year ends and another begins. At Heffron we were fortunate to kick off the new year with a (positive) bang – we heard we’d won the 2021 SMSF Administration Provider award from SMSF Adviser magazine.