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Edition 22

  •   5 July 2013
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Welcome from Chris Cuffe

The number of people who want to manage their piece of the superannuation pie in their own fund will continue to grow. Nobody should think SMSFs are a passing fad.

But from 1 July 2013, the ATO has drawn a line in the sand. The penalty system for rule breaches by SMSF trustees has been overhauled, and many people are in for a shock. Fines for what might seem minor infringements such as incomplete paperwork start at $850, and rise rapidly. Every SMSF trustee must ensure the administration of their fund is robust and what Graham Hand calls 'industrial strength'.

Ashley Owen loves to challenge conventional wisdom and urban myths, and attacks another this week by debunking the link between economic growth and stock market returns. There's no doubt investing is a tricky business.

Ramani Venkatramani points out that it is inequitable for the ATO to require advance payments of the estimated tax for the year, but not pay refunds in advance based on estimated franking credits. Andrew Bloore notes that estate and financial planning should use the superannuation rules to drive efficient outcomes, and 'pensions' should not be associated with 'age'.

We received a lot of feedback on my risk article last week, and David Bell makes the case for the benefits of best practice risk management.

And my old (literally!) mate Rob Prugue gives a unique perspective on inflation while having a rocking good time. We baby boomers are rewriting the rules on growing old disgracefully.

Chris

Latest posts from Cuffelinks, 5 Jul 2013, Edition 22

  • It’s time to industrialise every SMSF Graham Hand
  • Economic growth does not drive stock market returns Ashley Owen
  • An SMSF inequity that cries out for attention Ramani Venkatramani
  • Look at super with different eyes Andrew Bloore
  • Simple investment risk management – this is the risk issue we need to talk about David Bell
  • Dear friends, colleagues and fellow rockers Rob Prugue

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  •   5 July 2013
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