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We allow the reimbursement of set up costs, after all it is commonsense, we set up a company for a client day 1 (same day as smsf set up) and require payment from the member prior to setting up the company, makes sense for it to be reimbursed and this will be the treatment in the current year...

Hi Anglosaxon: Funnily enough 80% of the 500,000 SMSFs are set up as individual trustees. For longevity, asset protection and flexibility we recommend all our clients use a corporate trustee. This also depends on your investment strategy also. For instance if you trade in shares, much easier to...

ATO cares if its through a Self Managed Superannuation Fund, they really care and needs to be structured very carefully. SMSF property investment is prevalent in the United States,. I'm attending an Indonesian property forum in May, don't know much about regulation there.

Hi there, Do you have a current SMSF? It is not required to have life insurance through your SMSF, however your investment strategy should consider life insurance. So, you have two options: 1. Put your life insurance through the SMSF re IP really depends on your personal circumstances and your...

Yes free set up is a permanent deal and you will notice most SMSF administrators are offering free set up (including Redwood Advisory). My suggestion is that you should go with corporate trustee, as you may know, you set up a Corporate Trustee which will have the two members as directors of the...

Agree boyracer, your example is unfortunate as forging is fraud, the organisation itself should take action (most banks have a 2nd line compliance dept for a reason), I have taken part in the so called 'independent expert' investigations as part of an enforceable undertaking, how much was...

A famous case and a lesson to be learnt, what we saw is that the 'gatekeepers' being ASIC, sat on their hands and failed their duty of care, some investigation is taking place but ASIC got away from this scot-free. As we know this is not the only case, this resulted in a major (or not really...

Hi Boyracer, Thanks for the note, my username gives it away, i'm from Redwood Advisory (www.redwoodadvisory.com.au), give myself/ our firm a bit of a plug, we do SMSF set up, admin and compliance plus we are registered auditors. We have a heap of clients with precious metals in their SMSF so a...

Is cash changes hands? sorry if I missed that. If cash, then agree with Willrocks, if no cash, file note.

Alot of my clients are and have been investing in car parks. They were much cheaper years ago, so safe to say yields have decreased over the 10-15 years however, if held they appreciate in value. I have 3 clients buying big in this: (I have no interest in this car park), getting alot of press...

As you can see i'm fresh on this forum and happy to admit I am a SMSF Registered Auditor and SMSF Administrator (Redwood Advisory) sorry if that breaks the rules in naming my firm. Enjoying the topics, especially as many of my clients invest in Gold Bullion and I have the fun task of auditing...

I'd be interested to hear which managed fund....as you mentioned 'released' you may be referrin gto the illiquid mortgage and property funds where all money was 'locked' yet the investment managers were still getting paid...

Good on you non recourse, I can tell you admin fees have decreased significantly over the last 10 years in particular, the corporates are in saturating the market, where independent SMSF specialists like my firm need to fight, and I think we will win. There is room, as an FYI my firm charges $89...

Everyone will tell you that Xpress super is not independent and are backed by a corporate, they will have their own price hikes. We have our trust deeds updated all the time and don't pass on to our clients. For any Esuper clients, don't pay the charge and transfer to another provider. We...

Ha, anyone considering SMSF v Industry fund should read this. Essence of SMSF is control, look at many industry funds between 2008-2012 and they made zilch over that period.....thats why people want 'control'. I can tell you more of my clients are between 25-35.....young tackers just want to...

Many of my clients ask abt partial rollovers however I donot see the benefit. Go to the ATO website and download the 'request to rollover whole balance of superannuation fund' fill it out and attach a cover letter titled 'partial rollover', and the industry fund will roll it over. Need more help...

Hi Shiney, happens alot, with ESuper, they are an online provider, no personal service, get first year free and if you have a question (which many do) you have no one to ask. I am a SMSF Administrator and I transfer one fund a week from ESuper, they are huge, but alot of people leave after one...

As long as it is clearly stated in your investment strategy you will be fine....well, I accept it in our audits....not a new requirement just a different interpretation