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Trustee Responsibilities

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Clime time: Asset allocation decisions for SMSFs

Asset allocation explains up 70% of total investment returns, making it of critical importance to SMSFs. Here are some guidelines for how they should go about it and the macroeconomic events that could influence allocations.

SMSF trustees who question their capacity and look for options

An aging couple who question their ability to run their own fund look for ways to manage the next step - but without children to assist what can they do? There are potential solutions using NSW Trustee and Guardian.

Avoid these top five errors in your SMSF annual return

The Australian Taxation Office has issued a directive about the top five errors in SMSF annual returns. Although many leave these to an administrator, it's worth knowing what's happening behind the scenes.

SMSFs during COVID-19 and your 14-point checklist

SMSFs come with an administration burden underestimated by many. For example, did you know trustees need to document a member’s decision to take the reduced pension minimum under the new COVID rules?

Every SMSF trustee should have an Enduring Power of Attorney

COVID-19 and the events of 2020 show why, more than ever, SMSF trustees need to prepare for the ‘unexpected’ by having an Enduring Power of Attorney in place. A Power of Attorney is not enough.

5 more mistakes to avoid with SMSFs

SMSFs are useful retirement vehicles, but there are rules to follow which can easily be overlooked in haste. Run your eyes over the next five rules in this continuing list.

Court holds SMSF trustees accountable

A recent case highlights the importance of SMSF trustees exercising discretion to pay death benefits in good faith, with real and genuine consideration and in accordance with the purpose of the conferred power.

7 vital steps to compliance for your SMSF

A significant compliance breach can materially affect the tax effectiveness of your SMSF, so check you are complying with these seven steps and stay on top of the administration and obligations.

Industry funds capitalise on Commission wins

The Royal Commission has severely damaged the reputations of many retail funds. While the CEO of the peak body for industry funds is not complacent, battles have been won.

Latest SMSF updates from the ATO

The ATO has issued an update on illegal early release of super, when an SMSF is worth having, reporting obligations and trustee checklists. Make sure you stay on top of the rules.

Some trustees should self-manage out of SMSFs

Although over one million Australians are trustees of SMSFs, ASIC reports that many do not have the expertise or time to take responsibility to manage their own superannuation.

10 checkpoints before setting up an SMSF

It's fashionable to have an SMSF, and at barbecue talk, it goes well with the new car, private school, investment property and overseas holiday. But who should really have one?

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Australian house prices close in on world record

Sydney is set to become the world’s most expensive city for housing over the next 12 months, a new report shows. Our other major cities aren’t far behind unless there are major changes to improve housing affordability.

The case for the $3 million super tax

The Government's proposed tax has copped a lot of flack though I think it's a reasonable approach to improve the long-term sustainability of superannuation and the retirement income system. Here’s why.

Tariffs are a smokescreen to Trump's real endgame

Behind market volatility and tariff threats lies a deeper strategy. Trump’s real goal isn’t trade reform but managing America's massive debts, preserving bond market confidence, and preparing for potential QE.

The super tax and the defined benefits scandal

Australia's superannuation inequities date back to poor decisions made by Parliament two decades ago. If super for the wealthy needs resetting, so too does the defined benefits schemes for our public servants.

Meg on SMSFs: Withdrawing assets ahead of the $3m super tax

The super tax has caused an almighty scuffle, but for SMSFs impacted by the proposed tax, a big question remains: what should they do now? Here are ideas for those wanting to withdraw money from their SMSF.

Getting rich vs staying rich

Strategies to get rich versus stay rich are markedly different. Here is a look at the five main ways to get rich, including through work, business, investing and luck, as well as those that preserve wealth.

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