Related-Party Purchases
Transactions with related-parties can be tricky for Trustees. Trustees should be cautious when purchasing certain assets from related-parties or entities controlled by a related party. However, there are exceptions such as listed shares or business real properties. Alternatively, there is an exception for in-house assets as long as the value of the assets are kept […]
Estate planning in an SMSF
A Binding Death Benefit Nomination (BDBN) is a format that Members can use to nominate beneficiaries to pass on the super benefits in the SMSF upon their death. It’s also referred to as an ‘SMSF Will’. Death benefit payout can be made to a legal personal representative, a dependent or the estate. A recent court […]
Gold Investment in an SMSF
A lot of Australians are turning to SMSF to take control of their superannuity. SMSF is like any other kind of fund, except it allows members to take full control of their fund as well as hold more assets than any other type of super account, similar to the retail industry, or even corporate funds. Diversification […]
SMSF – Recent Updates
1. Super guarantee rates From 1 July 2022 the superannuation guarantee rate will increase to 10.5%. The super rate is due to increase a further 0.5% each year until it reaches 12% in 2025. These increases have been legislated by the Australian Government. 2. Contribution caps From 1 July 2021, the concessional contributions cap is increased from $25,000 […]
