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Very different....And sometimes shares in a ASX listed company are prohibited... Read SIS Reg 13.22C.- It describes just such a problem. Worse still is if the unit trust (or company) that owns just one Telstra share breaches 13.22C then 13.22D FORCES sale of the trust interest within a year...

Shail - No? As you said Shail is more (tax) fraud than super and a different country. The client was eventually released from liabilities once the Commr was happy it was a genuine trustee fraud and not a release scheme. It wasn't easy. The client lost her $500K and wasn't insured. SMSFs are a...

All SMSFs are DIY...The members are the trustees and they take personal accountability for all outcomes. This is the "self managed" principle. The key issue is loss of prudential protection. All other super is insured against fraud and misappropriation. Its govt guaranteed. No limit. SMSFs...

Redwing...These days the value of a SMSF for non-property investment and investing in marketable securities doesn't always wash. More and more funds are offering direct control and low costs if you want to self-direct your own super. You don't need a SMSF. The SMSF peddlers will tell you can get...

Thompson Reuters .... "The Government today [Mon 21.7.2014] release a discussion paper, Review of retirement income stream regulation, to investigate the regulatory barriers for retirement income stream products. The discussion paper also considers extending concessional tax treatment to...

Its no magic diagram. Its one of two general ways a SMSF can borrow funds to buy property. The rules of a limited recourse borrowing facility are determined by s67 of the Superannuation Industry (Supervision) Act 1993. The non-bank lend can also be used and can be far cheaper than a SMSF...

Of course the decision to establish a SMSF is financial advice - Something not all accountants can give. Some accountants have little knowledge of super, some don't get SMSFs and some aren't AFSL licensed. SMSFs can make a loss. Its best avoided as it just will erode earnings. So...

I would have concerns that if you do the reno you could trigger a breach of s66 of SISA which prohibits an acquisition from a member. Non-arms length acquisition. After all would you reno my place for just the cost of materials ? The tax ruling on contributions (TR 2010/1) may consider it a...

My reply above

15% goes back a bit. Back in early days Super funds were called Occupational Super Schemes and most were defined benefit. Defined benefit came with some issues - Employers would "vest" benefits and employees who left would leave and get nothing. Keating ended that and made it all vested. The tax...

But you did amend the hybrid trust so the problem was fixed....Didnt you. A lot of people get this wrong idea about SMSFs. They operate under the EXACT same rules as industry & retail funds. I can assure you that the "benefits" wont end. They may become more restricted (ie no lump sum...

Good question. In the past most generous benefits from super have been eroded or wound back. However, there is typically a feathering of new restrictions. ie Grandfathering from a date, aged based tests etc. However, the foundation of superannuation law and practice is supported by...

+1. Probably a warning sign that they didn't get financial advice. I reckon I wind up as many SMSFs as I setup for that reason. I argue that very few people possess the skills to determine whether a SMSF is suitable for them. Sadly in many cases its hubby pushing wifey along. Its easy to...

Speaking of strategy....Some alternatives may include: - Joint SMSF owners (ie two families) - Ungeared unit trust (far cheaper sometimes) - Ungeared UT with individuals accessing neg gearing and SMSF +ve geared - Related party lend (far cheaper than bank loan...ie using equity in PPOR) -...

Good point Terry - I have wished there was "superannuation" thread on SS for a long time. Its a massive industry with huge $$$ and 560,000 funds. And that's just SMSFs...Lets see if Sim can deliver on our wish list. Property for a SMSF is very different to that outside super. I have been...