For anyone considering an SMSF, it’s important to consider, among other things, what’s involved in setting up and running one—seeking qualified professional advice in this area can be a worthwhile consideration here.
From 1 July 2022, the eligible age to make a downsizer contribution to their superannuation fund has reduced from 65 to 60 years old.
The Government intends to make legislative changes to ensure the non-arm’s length expense provisions operate as envisaged.
From 1 July 2021, self-managed super funds (SMSF) and small APRA funds (SAFs) will be able to have up to six members. If you are considering expanding your fund, you will need to consider things such as what your fund’s trust deed allows, the structure of your fund and its reporting requirements.