Tag Archives | trustee responsibilities

SMSF compliance scorecard

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.

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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.

winding up

10 tips for winding up an SMSF

Regardless of why an SMSF needs winding up, certain steps must be followed to do it correctly. This list will help SMSFs trustees stay on the right side of the law and allow for a smoother audit process.

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Importance of updating your SMSF Trust Deed

Your SMSF Trust Deed is an important document, governing what the trustees are allowed to do. As superannuation laws change, so too must the Trust Deed, or you risk having a non-compliant fund on your hands.

How do you change a two-member SMSF?

The majority of SMSFs have just two members, typically husband-wife. One of the most common problems with an SMSF is what happens if one member dies or becomes incapacitated.

Six property potholes for SMSFs to avoid

There are stringent rules and regulations to follow when an SMSF borrows to invest in property. And despite what you might hear in the market, your SMSF cannot be used to pay off the home you live in.

Super funds must balance leadership and consensus

When a fund is open to the public, there is a dilution of the influence of those who were ‘looking after’ their members – unions and employers. Super funds may need to better balance leadership and consensus management styles.

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