Your SMSF Blog
By Foxton Financial

SMSFs – 2023-2024 Federal Budget Update – $3 million super threshold confirmed

As expected, the 2023-2024 Federal Budget has placed a strong emphasis on the cost of living and establishing a stronger, secure economy. From an SMSF perspective, we were pleased to see there were no unexpected changes likely to significantly impact the sector or superannuation more broadly. As expected, we saw..

Rollover relief ending 30 June

IntelliVal Automated Valuation – Property

Are you looking to sell your property but you’re unsure of its value or if now is the right time to sell? InfoTrackGO’s IntelliVal Automated Modelling reports can provide you with an approximate evaluation of your property’s worth without the hassle of hiring an appraiser. Having a valuation certificate on hand can..

SMSF Association Superannuation Rates and Thresholds

https://foxtonfinancial.com.au/wp-content/uploads/2023/04/Superannuation-Rates-and-Thresholds_SMSF-Connect_UPDATED-1.pdf

Winner – Tax Firm (Aus/NZ) < $30m

Understanding self-managed super fund performance

New research released New research released by the University of Adelaide provides tangible evidence of the benefits of investment diversification. In its report, titled “Understanding self-managed super fund performance” and using data from over 318,000 SMSFs between 1 July 2017 and 30 June 2019, the University of Adelaide explored the..

Is it a scam?

New data released Naturally, people aspire to get the most out of their investments, especially if a great opportunity is presented by a ‘trusted’ organisation. However, investment scams occur more often than you may think, highlighting the risk both self-directed investors and SMSF trustees may potentially face when seeking ew..

What is a Director Identification Number (director ID) and do I need one?

You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a director ID also applies to individuals who have an SMSF with a corporate trustee, which is why I wanted to bring this..

IPA Practice of the Year Award!

We have some exciting news, our Practice is up for an award! Our Practice is a member of the Institute of Public Accountants (IPA) and each year they sponsor two very important awards, namely the IPA Member of the Year Award and the IPA Practice of the Year Award. We..

Your 2020 End of Financial Year (EOFY) considerations

The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception. While the worst of the pandemic is (hopefully) behind us, trustees still have difficult questions to ponder as they focus on how best to position their SMSF in 2020-21, as well as meet their annual regulatory obligations..

COVID-19: Negative returns – looking for the positive?

Despite well formulated investment strategies and appropriate investment advice, no trustee could have foreseen the impacts of COVID-19 on financial markets globally. Whilst history suggests that a strong recovery is likely within a relatively short period after large market corrections, it is still too early to know the impact of..

COVID-19 – Providing concessions for the LRBA in my SMSF

The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals. If your SMSF has a related party loan and is impacted due to the financial effects of COVID-19, you may be able to provide your LRBA with relief under an agreed commercial arrangement…

COVID-19 – Providing rental relief for the tenant in my SMSF property

The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals. If your SMSF has a property and a tenant in financial distress, you may be able to provide your tenant with rental relief under an agreed commercial arrangement. This may even be the..

COVID-19 – Accessing your superannuation early

You may be aware that the Government recently announced measures which allow individuals affected by the economic impacts of COVID-19 to access a limited amount of their superannuation early. Making the decision to access your superannuation early is a significant one and if possible, should be encompassed by financial advice…

COVID-19 – The Government’s economic stimulus packages explained

Over the past two weeks the Government has announced two economic stimulus packages to cushion the economic impact of the Coronavirus. A total of $189 billion is being injected into the economy by all arms of Government in order to keep Australians in work and businesses in business. This includes..

Superannuation Death Benefit Limitations

As an SMSF trustee, you need to take special care when paying death benefits as you are responsible for ensuring that the payment rules are met. Strict rules apply, affecting who can receive a death benefit, the form in which the death benefit can be paid and the timing of..