Redwood Advisory SMSF
Self managed superannuation funds (“SMSF’s) are about strategy, and your strategy needs to be compliant with Superannuation Law. A sound SMSF strategy will ensure you achieve the maximum tax benefits for your fund and will improve your retirement balance in the long run. We have identified key strategies and compliance considerations for your in…
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The power of SMSFs was confirmed by March 2014 ATO data stating that Australia has notched up its one-millionth (“SMSF”) member. No longer can SMSF’s be considered a ‘fad’, it is most definitely real and its here to stay. There are now 1,006,970 members in SMSFs with assets of $558 billion. There has been…
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From 1 July 2013, where SMSF contraventions or non-compliance issues occur, the ATO has implemented a new Penalty Regime for SMSFs. In 2013 and previous years, the ATO had limited powers in dealing with a contravention including: SMSF is non-compliant Enforceable undertaking based on the contravention Apply for a civil (or criminal) penalty to be…
read moreMany self-managed superannuation fund (“SMSF”) investors are interested in smsf investing in overseas property and request information on purchasing a property in the United States (“US”) through their SMSF. This has been a popular strategy in the last 5 years with the global financial crisis and defaults on mortgages in the US resulting in ‘cheap as chips’…
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The Federal government announced that the date by which superannuation funds must comply with the SuperStream contributions data standards has been pushed back to 1 July 2015. The ATO will provide more information to industry through its regular consultative forums in the near future. Redwood Advisory welcomes the delayed SuperStream compliance date, particularly as…
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There has been significant interest from Self Managed Superannuation Fund (“SMSF”) investors in the national rental affordability scheme (“NRAS”), which is designed to encourage large-scale investment in affordable housing. The NRAS offers tax and cash incentives to providers of new dwellings on the condition that they are rented to low- and moderate-income households at 20%…
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Employers will soon need to make super contributions to SMSF via SuperStream All funds, including SMSFs, need to be ready to receive the contributions as well as the associated data by electronic means that comply with the new standard Its important for all funds, SMSF trustees and employers to understand their obligations under this new…
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Over 80% of the approximately 500,000 self managed superannuation funds (SMSF) are set up as individual trustees. In my view, this is a mistake, however it’s not too late to fix this issue. There are a number of issues that you may encounter in using an individual trustee structure which include asset ownership, the death…
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The power of Self Managed Superannuation Funds (“SMSF”) has become more publicised of late, the Reserve Bank of Australia even attributing SMSF’s for a possible ‘property bubble’, after all, SMSFs are a $530 billion dollar industry- that’s a fair chunk of money. Recently, SMSFs have quietly influenced sales in another sector of the property market…
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Many Australians consider using their SMSF to invest in precious metals such as gold and silver for security, diversification of investments and protection of wealth. There are several steps to buying gold through a SMSF. They are 1. Contact a SMSF Specialist advisor to set up your SMSF 2. Transfer (roll over) your money into…
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