SMSFs warned on common mistakes with bare trusts

SMSFs warned on common mistakes with bare trusts

A specialist law firm has highlighted the importance of ensuring that the bare trust has been set up correctly where SMSFs are looking to borrow money.   In a recent video, Cooper Grace Ward Lawyers senior associate Keeghan Silcock said that in order for an SMSF to...
Strategic asset allocation: a timeless solution

Strategic asset allocation: a timeless solution

While adopting a tactical asset allocation might seem tempting during bouts of heightened volatility, the timing and skill required to perfectly execute a portfolio shift is near impossible. Sticking to a strategic asset allocation however is likely to yield better...
Should you be getting advice?

Should you be getting advice?

From navigating market volatility to superannuation legislation changes to determining the right asset allocation, here's how financial advice can help investors optimise their portfolios.   Volatility on financial markets this year has probably buffeted your...
Preparing your kids for financial success

Preparing your kids for financial success

Teaching kids to establish sound money management skills and strong financial acumen is important, regardless of wealth level.   Teaching good financial habits, such as saving and budgeting, is one of the best ways to prepare children to have a secure financial...
Tax Office homing in property deductions, SMSFs warned

Tax Office homing in property deductions, SMSFs warned

With property deductions a big focus for the ATO this tax time, SMSFs have been warned on some of the pitfalls in this area that can land them in trouble.   The ATO has recently indicated that rental property expense claims will be a significant focus for the...
NALI ‘not going away anytime soon’

NALI ‘not going away anytime soon’

SMSF trustees have been urged to start reviewing any potential non-arm’s length expense issues with the outcome of any future government consultation still unclear at this stage.     Speaking to SMSF Adviser, BDO partner Shirley Schaefer said SMSF auditors will likely...
How much time and money do you need to consider investing

How much time and money do you need to consider investing

There's a common misperception that in order to start investing, you need a large initial sum and lots of time. Here's why that's a myth.   Investing can seem like a daunting task, particularly for those who think they lack the time and resources to...
ATO responds to GST case involving SMSF

ATO responds to GST case involving SMSF

The ATO has issued a decision impact statement on a recent decision that determined whether an SMSF was liable for GST on the sale of subdivided lots. The ATO has released a decision impact statement on the Administrative Appeals Tribunal decision Ian Mark Collins...