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$3 million super cap to cost SMSF members up to $80,000 in tax

The government’s plan to increase taxes on super balances above $3 million will have a costly impact on the SMSF sector, with thousands of members likely to face liquidity stress, according to new research from the University of Adelaide’s International Centre for Financial Services.

Lisa Uhlman | 26th Oct 2023 | More
SMSF trustees lack diversification, still underweight international shares

With new data showing offshore share investments comprise just 2 percent of total self-managed superannuation fund assets in Australia, advisers are warning SMSFs against overreliance on domestic shares and cash and urging diversification.

Nicki Bourlioufas | 10th Jul 2023 | More
  • Art investment in SMSFs ‘not easily done’, but trustees backing their taste

    With almost $600 million worth of SMSF assets held in art – up 54 per cent since 2016 – the original alternative investment is seeing a significant resurgence in popularity.

    James Dunn | 19th Jun 2023 | More
    Reprieve in sight for franked distributions funded by capital raisings

    Stakeholders have welcomed a recommendation from the Senate Economics Legislative Committee that the government review its controversial plan to limit franking credits stemming from capital raisings and share buybacks.

    Tahn Sharpe | 15th Jun 2023 | More
  • Sophisticated investor test draws scrutiny in financial services inquiry

    The test allows investors who can certify that they earn $250,000 a year or have more than $2.5 million in net assets to access higher-risk securities normally off-limits to individuals. But many say the test is confusing and outdated, and an independent statutory body has called for an update.

    Nicki Bourlioufas | 8th Jun 2023 | More
    Fixed income finally ‘stirring interest’ among SMSF trustees

    The bond market has never had great investment appeal for Australia’s self-managed superannuation funds, but with rising yields improving their proposition, some observers say the investment tide may be coming in for fixed interest.

    Nicholas Way | 8th May 2023 | More
    Kudos and credit: Thinktank ready to weather the next storm

    After cutting its teeth as a commercial property lender during the GFC, Thinktank – thanks to strong strategic relationships and conservative credit policies – is well funded and prepared for the market to turn, says BDM Lauren Ryan.

    Lisa Uhlman | 4th May 2023 | More
    Downsizer, NALE rule changes top shifting regulatory backdrop for SMSFs

    Peter Burgess told the SMSF Association’s National Conference the industry group has pushed for some of the developments, while it continues to oppose others, such as a high-balance cap. The government now plans instead to double the tax rate for funds with very high balances.

    Tahn Sharpe | 2nd Mar 2023 | More
    ‘Not a honeypot’: ATO flags increase in illegal early access to super via SMSFs

    The success and popularity of SMSFs has also given several hundred thousand people direct access to their retirement savings. More concerning, the ATO believes, is that fraudsters are starting to take notice.

    Tahn Sharpe | 27th Feb 2023 | More
  • Super’s purpose is preservation, not solving other problems: Jones

    Speaking at the SMSF Association’s National Conference, the assistant treasurer called out “modern-day Edmund Hillarys” seeking to raid Australia’s “Mount Everest of superannuation” as he pressed the need for an objective for super that prioritises preservation.

    Lisa Uhlman | 27th Feb 2023 | More
    SMSF sector poised for growth as millennials, Gen X opt for ‘the Spotify of superannuation’

    Despite a growth hiccup in 2022 the SMSF sector is trending in the right direction, with more younger people opting for choice in the way they manage their retirement savings.

    Tahn Sharpe | 23rd Feb 2023 | More
    SMSF investors flock to longer term deposits, but Aussie equities still reign

    The shift to healthy longer term deposits has begun, and while Australian equities still dominate SMSF portfolios the way they access them is changing.

    Tahn Sharpe | 16th Feb 2023 | More