Over the last 5 years, the number of self-managed super funds (SMSFs) in Australia increased by 31% and their total assets grew by 55%. On average, 36,000 new SMSFs are established each year. The top 5 asset classes held by SMSFs, which make up 82% of their total assets, are cash and term deposits (26%), listed shares (31%), real property (11%), unlisted trusts (9%), and other managed investments (5%). The average assets per SMSF fund increased by 20% over the past 5 years to $1.1 million, while the average assets per member rose 21% to $590,000.
In 2014, self-managed super funds (SMSFs) contributed $26.5 billion, accounting for 22% of all super contributions, with member benefit payments increasing by 32% to $30.7 billion. The average assets per fund surpassed $1 million for the first time in 2014, and 29% of all super assets are held in SMSFs, with 53% in the accumulation phase and 47% in the pension phase. By June 2015, 78% of SMSFs had individual trustees, and top asset holdings included cash, listed shares, and non-residential real property.
This infographic provides an update on the SMSF sector in April 2015. The content within this infographic was extracted from a speech given by the Assistant Commissioner, SMSF Segment, Matthew Bambrick in March 2015.
The webinar discussed several changes impacting SMSFs from the 2014-15 Federal Budget and other regulatory changes. Key points included an increase in the excess non-concessional contributions tax rate to 49% due to the temporary Budget Repair Levy, reforms to the age pension and seniors health card assessments, and cessation of the National Rental Affordability Scheme. The webinar also covered changes to the 2014 SMSF annual return, issues around related party limited recourse borrowing arrangements, and upcoming webinars from The SMSF Academy.
This webinar presentation provides an overview of death benefit nominations in self-managed superannuation funds (SMSFs). It explains that a binding death benefit nomination (BDBN) is a key estate planning tool to dictate how superannuation benefits are distributed upon a member's death. However, BDBNs made under the Superannuation Industry Supervision Regulations are not binding for SMSFs. The presentation discusses factors to consider when deciding what type of death benefit nomination to make, including how much control and flexibility is desired. It also summarizes relevant case law on issues like paying death benefits according to a member's will.
This webinar provided tips and strategies for SMSF contributions and benefit payments for the 30 June 2014 financial year. It discussed concessional and non-concessional contribution caps and strategies for maximizing deductions before year-end. It also addressed pension minimums and payment options, as well as limited recourse borrowing arrangements and reviewing other fund documents. Attendees were encouraged to take advantage of available contribution caps and tax exemptions for the year through approaches like pension segregation.
This webinar covered several key changes impacting SMSFs, including:
1) Increases to the concessional and non-concessional contribution caps from July 1, 2014.
2) Clarification from the ATO on the in-house asset exemption for LRBA arrangements both before and after loan repayment.
3) New administrative powers granted to the ATO, including the ability to issue rectification directions, education directions, and impose penalties for SMSF non-compliance.
4) Requirements for SMSFs to comply with the Superstream standard for receiving employer contributions electronically from July 1, 2014.
The webinar discusses recent changes and updates regarding SMSFs, including government measures affecting pension assessments and contributions. It highlights new ATO rulings on contribution reserving and non-arm's length income, and addresses recent legal cases involving death benefit nominations and early access to superannuation. The session emphasizes the importance of compliance and the implications of changes in legislation for SMSF members and trustees.
The webinar discusses insurance strategies related to Self-Managed Superannuation Funds (SMSF) and Limited Recourse Borrowing Arrangements (LRBA), focusing on methods to manage debt and liquidity risks through life and disability insurance. It explores various scenarios, including tax dependants and non-tax dependants, assessing the advantages and proposed strategies for insurance policy implementation within SMSFs. Key takeaways include understanding member relationships, ensuring compliance with governing rules, and structuring insurance to effectively manage risks associated with death benefits.
The Coalition's policy for superannuation emphasizes the importance of a stable and transparent retirement savings system in Australia, vowing not to make unexpected detrimental changes. Key proposals include increasing the superannuation guarantee, ensuring fair taxation, paying superannuation on paid parental leave, and improving corporate governance and transparency. The Coalition aims to restore Australians' confidence in superannuation while addressing various structural issues within the current system.
The webinar conducted by the SMSF Academy on September 5, 2013, addressed various aspects of SMSF contributions, including contribution caps, tax implications for high-income earners, and changes in legislation affecting excess contributions. Attendees were informed that the presentation provides general advice and that all content was accurate at the time of compilation, but without guarantees regarding its accuracy. The session also included a Q&A segment, with recordings and access to resources available for members of the academy.
The webinar discusses the commencement and cessation of pensions in self-managed super funds (SMSFs), highlighting the implications for income streams and tax obligations. It covers topics such as when a pension commences, the definitions of super income streams versus lump sums, and the conditions under which pensions may cease, including capital exhaustion and compliance failures. Additionally, it emphasizes the importance of understanding the rules concerning commutations and the impact of member death on pension entitlements.
The webinar discusses the administration of self-managed superannuation fund (SMSF) death benefits, outlining required documentation, tax implications, and considerations regarding dependants and nominations. It emphasizes the importance of understanding the trust deed and SIS regulations, and provides examples of how death benefits can be distributed and taxed. Additionally, it includes information on upcoming resources, including a checklist and a future webinar date.
The document summarizes changes to the 2013 SMSF annual return. Key changes include requiring auditors to be registered with ASIC, collecting information on exempt current pension income, capital gains exemptions/rollovers, expenses and deductions, timing of supervisory levy payments, reporting assets held under limited recourse borrowing arrangements, and disclosure of in-house assets like loans to related parties.
The webinar covers recent technical and regulatory updates related to self-managed super funds (SMSFs), emphasizing the importance of general advice regarding individual financial circumstances. Key topics include changes to concessional contribution caps, taxation implications for high-income earners, and the treatment of pension earnings and capital gains. It also addresses the conversion of non-reversionary pensions to reversionary and various compliance considerations for SMSFs under current Australian legislation.
This presentation by Aaron Dunn from the SMSF Academy provides general advice regarding Self-Managed Superannuation Funds (SMSFs), focusing on contribution strategies, tax consequences, and the importance of timing for both concessional and non-concessional contributions. It highlights the need for trustees to review their investment strategies and other aspects of their funds, along with considering legislative changes and caps applicable to contributions each year. The document also touches on pension obligations, taxation, and the potential for segregation of assets within the SMSF to optimize tax efficiency.
The Labor Government announced changes to superannuation rules for capital gains on assets held before July 1, 2014 in self-managed super funds (SMSFs). For SMSF assets acquired before this date, the choice will be available to apply capital gains against the entire gain or just the amount accrued from July 1, 2014. For assets acquired between April 5, 2013 and June 30, 2014, or after July 1, 2014, the entire capital gain will be included in the $100,000 threshold where earnings are exempt from tax for each individual in the pension phase.
This document is a presentation on the actuarial requirements for self-managed superannuation funds (SMSFs), focusing on general advice regarding tax exemptions and the necessity of actuarial certificates. It outlines when these certificates are required, the implications for segregated and unsegregated assets, and highlights key terminology and relevant legislative references. The session aims to help attendees understand the factors influencing the taxation of income streams during the pension phase and the role of actuaries in determining tax deductions.
The document outlines key points from a quarterly technical and regulatory webinar focused on the changing landscape of self-managed super funds (SMSFs). It addresses topics such as related party acquisitions and disposals, administrative penalties, and ATO guidance on starting and stopping income streams. The presentation emphasizes the importance of compliance with regulations and the potential consequences for failures in pension payments and related-party transactions.
The webinar discusses the future of SMSF licensing, focusing on the legislative changes and requirements for licensed advice on SMSFs. It outlines options for accountants to become licensed, including self-licensing and becoming an authorized representative, as well as the associated costs and training requirements. The session also highlights the evolving needs of clients and the growth of the SMSF sector.
Here are the key steps:
1. SMSF borrows $1,000,000 from bank via LRBA to acquire units in a unit trust
2. Unit trust (Jones Property Trust) is established with the SMSF and others as unit holders. Unit trust acquires the land.
3. Unit trust undertakes the property development using the borrowed funds
4. Upon completion, the developed land is held via separate titles by the unit trust
5. Income/profits from the developed land/titles are distributed to the unit holders (SMSF). The SMSF uses these distributions to repay the bank loan.
The unit trust structure allows the SMSF to undertake the development via the trust, avoiding
The webinar presented by Aaron Dunn covered strategies for pension and estate planning, focusing on the importance of structuring income streams and maximizing tax efficiency for members of self-managed super funds (SMSFs). It discussed the benefits of multi-pension strategies, the impact of investment volatility, and the significance of proper component allocation and segregation for achieving optimal outcomes. Additionally, it highlighted the need for active management to take advantage of market conditions and meet regulatory minimums, along with general advice disclaimers for individual financial circumstances.
The document analyzes property investing through a comparison of self-managed super funds (SMSFs) versus individual borrowing for an off-the-plan apartment acquisition. It highlights key variables affecting investment outcomes, such as loan-to-value ratios, repayment types, depreciation, and capital growth, while emphasizing the favorable tax implications of using a SMSF. Conclusions indicate that SMSFs can provide a more tax-effective investment structure, allowing for optimized repayment capacity and greater capital gains tax benefits, particularly in the pension phase.
The document discusses excess contributions tax paid by taxpayers who exceed their superannuation contribution caps. It provides data on the number of excess contribution tax notices issued and the value of the liabilities from 2007-2010. It also presents average and median excess contribution tax liability values for different financial years. The number of applications to disregard or reallocate excess contributions is also listed. The document suggests that excess contributions tax issues are growing as superannuation balances and contributions increase.
The webinar on SMSF auditors addressed the current state of auditing, regulatory changes with ASIC registration, and competency standards, emphasizing the importance of independence for auditors. Jo Heighway from Engage Super Audits highlighted insights on the auditing profession, while discussions focused on the challenges and compliance requirements stemming from the Cooper review. Attendees were encouraged to proactively adapt to these changes, with potential impacts on the number of SMSF auditors and operational practices expected in the future.
The document outlines the top 10 SMSF strategies for the 2011/12 financial year, emphasizing the importance of understanding individual financial circumstances when considering contributions and investments. Key strategies include contribution splitting, use of contribution reserves, contributions deferral, leveraging SMSF limited recourse borrowing for property investments, and strategies related to pensions and estate planning. The presentation emphasizes that general advice is provided and individuals should seek tailored advice based on their specific financial situations.
The document discusses various strategies for investing in property within a Self-Managed Superannuation Fund (SMSF), emphasizing the importance of personal financial circumstances and seeking professional advice. Key strategies include outright property purchases, investing through an ungeared unit trust, and utilizing limited recourse borrowing arrangements (LRBAs). It highlights critical legal and structural considerations, potential tax benefits, and the management of risks associated with property investment in superannuation.
The webinar discusses insurance strategies related to Self-Managed Superannuation Funds (SMSF) and Limited Recourse Borrowing Arrangements (LRBA), focusing on methods to manage debt and liquidity risks through life and disability insurance. It explores various scenarios, including tax dependants and non-tax dependants, assessing the advantages and proposed strategies for insurance policy implementation within SMSFs. Key takeaways include understanding member relationships, ensuring compliance with governing rules, and structuring insurance to effectively manage risks associated with death benefits.
The Coalition's policy for superannuation emphasizes the importance of a stable and transparent retirement savings system in Australia, vowing not to make unexpected detrimental changes. Key proposals include increasing the superannuation guarantee, ensuring fair taxation, paying superannuation on paid parental leave, and improving corporate governance and transparency. The Coalition aims to restore Australians' confidence in superannuation while addressing various structural issues within the current system.
The webinar conducted by the SMSF Academy on September 5, 2013, addressed various aspects of SMSF contributions, including contribution caps, tax implications for high-income earners, and changes in legislation affecting excess contributions. Attendees were informed that the presentation provides general advice and that all content was accurate at the time of compilation, but without guarantees regarding its accuracy. The session also included a Q&A segment, with recordings and access to resources available for members of the academy.
The webinar discusses the commencement and cessation of pensions in self-managed super funds (SMSFs), highlighting the implications for income streams and tax obligations. It covers topics such as when a pension commences, the definitions of super income streams versus lump sums, and the conditions under which pensions may cease, including capital exhaustion and compliance failures. Additionally, it emphasizes the importance of understanding the rules concerning commutations and the impact of member death on pension entitlements.
The webinar discusses the administration of self-managed superannuation fund (SMSF) death benefits, outlining required documentation, tax implications, and considerations regarding dependants and nominations. It emphasizes the importance of understanding the trust deed and SIS regulations, and provides examples of how death benefits can be distributed and taxed. Additionally, it includes information on upcoming resources, including a checklist and a future webinar date.
The document summarizes changes to the 2013 SMSF annual return. Key changes include requiring auditors to be registered with ASIC, collecting information on exempt current pension income, capital gains exemptions/rollovers, expenses and deductions, timing of supervisory levy payments, reporting assets held under limited recourse borrowing arrangements, and disclosure of in-house assets like loans to related parties.
The webinar covers recent technical and regulatory updates related to self-managed super funds (SMSFs), emphasizing the importance of general advice regarding individual financial circumstances. Key topics include changes to concessional contribution caps, taxation implications for high-income earners, and the treatment of pension earnings and capital gains. It also addresses the conversion of non-reversionary pensions to reversionary and various compliance considerations for SMSFs under current Australian legislation.
This presentation by Aaron Dunn from the SMSF Academy provides general advice regarding Self-Managed Superannuation Funds (SMSFs), focusing on contribution strategies, tax consequences, and the importance of timing for both concessional and non-concessional contributions. It highlights the need for trustees to review their investment strategies and other aspects of their funds, along with considering legislative changes and caps applicable to contributions each year. The document also touches on pension obligations, taxation, and the potential for segregation of assets within the SMSF to optimize tax efficiency.
The Labor Government announced changes to superannuation rules for capital gains on assets held before July 1, 2014 in self-managed super funds (SMSFs). For SMSF assets acquired before this date, the choice will be available to apply capital gains against the entire gain or just the amount accrued from July 1, 2014. For assets acquired between April 5, 2013 and June 30, 2014, or after July 1, 2014, the entire capital gain will be included in the $100,000 threshold where earnings are exempt from tax for each individual in the pension phase.
This document is a presentation on the actuarial requirements for self-managed superannuation funds (SMSFs), focusing on general advice regarding tax exemptions and the necessity of actuarial certificates. It outlines when these certificates are required, the implications for segregated and unsegregated assets, and highlights key terminology and relevant legislative references. The session aims to help attendees understand the factors influencing the taxation of income streams during the pension phase and the role of actuaries in determining tax deductions.
The document outlines key points from a quarterly technical and regulatory webinar focused on the changing landscape of self-managed super funds (SMSFs). It addresses topics such as related party acquisitions and disposals, administrative penalties, and ATO guidance on starting and stopping income streams. The presentation emphasizes the importance of compliance with regulations and the potential consequences for failures in pension payments and related-party transactions.
The webinar discusses the future of SMSF licensing, focusing on the legislative changes and requirements for licensed advice on SMSFs. It outlines options for accountants to become licensed, including self-licensing and becoming an authorized representative, as well as the associated costs and training requirements. The session also highlights the evolving needs of clients and the growth of the SMSF sector.
Here are the key steps:
1. SMSF borrows $1,000,000 from bank via LRBA to acquire units in a unit trust
2. Unit trust (Jones Property Trust) is established with the SMSF and others as unit holders. Unit trust acquires the land.
3. Unit trust undertakes the property development using the borrowed funds
4. Upon completion, the developed land is held via separate titles by the unit trust
5. Income/profits from the developed land/titles are distributed to the unit holders (SMSF). The SMSF uses these distributions to repay the bank loan.
The unit trust structure allows the SMSF to undertake the development via the trust, avoiding
The webinar presented by Aaron Dunn covered strategies for pension and estate planning, focusing on the importance of structuring income streams and maximizing tax efficiency for members of self-managed super funds (SMSFs). It discussed the benefits of multi-pension strategies, the impact of investment volatility, and the significance of proper component allocation and segregation for achieving optimal outcomes. Additionally, it highlighted the need for active management to take advantage of market conditions and meet regulatory minimums, along with general advice disclaimers for individual financial circumstances.
The document analyzes property investing through a comparison of self-managed super funds (SMSFs) versus individual borrowing for an off-the-plan apartment acquisition. It highlights key variables affecting investment outcomes, such as loan-to-value ratios, repayment types, depreciation, and capital growth, while emphasizing the favorable tax implications of using a SMSF. Conclusions indicate that SMSFs can provide a more tax-effective investment structure, allowing for optimized repayment capacity and greater capital gains tax benefits, particularly in the pension phase.
The document discusses excess contributions tax paid by taxpayers who exceed their superannuation contribution caps. It provides data on the number of excess contribution tax notices issued and the value of the liabilities from 2007-2010. It also presents average and median excess contribution tax liability values for different financial years. The number of applications to disregard or reallocate excess contributions is also listed. The document suggests that excess contributions tax issues are growing as superannuation balances and contributions increase.
The webinar on SMSF auditors addressed the current state of auditing, regulatory changes with ASIC registration, and competency standards, emphasizing the importance of independence for auditors. Jo Heighway from Engage Super Audits highlighted insights on the auditing profession, while discussions focused on the challenges and compliance requirements stemming from the Cooper review. Attendees were encouraged to proactively adapt to these changes, with potential impacts on the number of SMSF auditors and operational practices expected in the future.
The document outlines the top 10 SMSF strategies for the 2011/12 financial year, emphasizing the importance of understanding individual financial circumstances when considering contributions and investments. Key strategies include contribution splitting, use of contribution reserves, contributions deferral, leveraging SMSF limited recourse borrowing for property investments, and strategies related to pensions and estate planning. The presentation emphasizes that general advice is provided and individuals should seek tailored advice based on their specific financial situations.
The document discusses various strategies for investing in property within a Self-Managed Superannuation Fund (SMSF), emphasizing the importance of personal financial circumstances and seeking professional advice. Key strategies include outright property purchases, investing through an ungeared unit trust, and utilizing limited recourse borrowing arrangements (LRBAs). It highlights critical legal and structural considerations, potential tax benefits, and the management of risks associated with property investment in superannuation.
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