Originally published in "Australian Financial Review" - We outline the rules to follow when your DIY fund invests in areas that might be perfectly legal but are less common.

The ATO recently identified approximately 18,000 SMSFs who hold 90% or more of their assets in a single asset or a single asset class. The ATO is concerned that these funds may not have met their investment strategy requirements.

Approximately 10% of SMSFs own commercial property and often this commercial property is leased to a related party. There are a number of rules to follow to ensure the arrangement complies with the superannuation / tax laws.

Division 293 tax is the name given to a special extra tax (15%) paid on some or all of the concessional superannuation contributions made for high income earners.

Top of mind for many SMSF trustees – particularly retirees - is the upcoming Federal Election and the Australian Labor Party (ALP) policy on refunds of excess franking credits.

As we get closer to the end of the financial year, many SMSF members with pensions will be checking the amounts paid from their fund so far to make sure the minimum payment requirements will be met.

If you hold insurance cover in a superannuation account separate to your SMSF, you might need to take action to ensure this cover continues.

When the unthinkable strikes, members can access their super tax free, but consider the strategies first.

There was presumably a collective sigh of relief from our largest financial institutions when Hayne decided not to recommend a ban on superannuation funds that make a profit.

All SMSFs trustees are required to appoint an approved auditor to audit the operations of their fund each year. This annual audit must include both a financial audit and compliance audit.

As part of the 2018/19 Federal Budget announcements, the Government confirmed that they intend to legislate to increase the maximum number of members that can belong to a single SMSF from four to six.

The title to this blog is a common refrain these days and most of us don’t blink an eyelid when someone says data is an asset.