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Superstream has been incredibly poorly implemented - whether it is an employer or a trustee/ member - no one has a clue. No HR/ Payroll knows what a ESA is - absolutely awful to date. Cheers, Ivan

If it s still going please let me know....i'm around the corner from the previous meeting address. Cheers, Ivan

Thats rubbish....don't bother contacting the ombudsman how long will that take. Had 2 clients go through this crap today and made both HR call me....all sorted. They bloody read checklists and have no idea. Try to give them your ATO/ABR correspondence on account opening plus a print out of the...

G'day Slam, firsly there has been a extension for Superstream to 1 July 2015. Refer to the superstream thread on SS where i provided details. This should be FREE, you should not have to pay for this rubbish. 2 options: 1. Contact us and we will register you on our service which is free - contact...

I wrote this on another forum but as it same topic i'll cut and paste. Any investor whether SMSF or personal must Be alert - that means do your due diligence on anything you spend your hard earned money on. If you will take recommendations either in a SMSF or outside from an advisor, make sure...

Hi Petey and CL, Re non-resident SMSF where I refer to POA, it will depend on your intention in leaving Australia. It can be central management and control in Australia if your NOT leaving Australia permanently and for less than 2 years and it may be possible in certain circumstances to be...

Hi Petey, not sure if we discussed your situation personally, however how long are you heading overseas for? depending on time you can appoint a power of attorney, key point are you going for more than 2 years? Cheers, Ivan

Hey mate, Sorry for the slow reply - the point around personal residence I will answer separately and in a little more detail. Re the other points - let me say, there are say 1000 auditors in Australia, some of them will audit by the letter of the law and the others will use the interpretation...

I speak on behalf of the masses - whats in the collection? are all firearms registered? are you thinking of storing the silver next to the guns? Sarcasm alert.... Cheers, Ivan

Hey there, a smsf is not required to have insurance, however you are required to 'consider insurance'....best to get a quote from a broker and see what the cost will be. The premiums are deductible to the SMSF. Cheers, Ivan

Having lived in the states, paranoid and firearms is not a good mix :D

Hi mate, sorry to hear about your personal situation. Tick - You can set up an SMSF Tick - You can purchase PM NO Tick - NO you cannot store in personal residence. There are a number of providers for storage which are safer and more importantly compliant. Cheers Ivan

Hey mate, correct, you cannot withdraw from the fund unless its an expense to be reimbursed in the running of the fund (i.e set up fees/ property expenses) and/ or you meet a condition of release which was stated above. If you have any questions, happy to answer them. Cheers, Ivan

I may have misread your question. The conditions of release above relates to SMSF. However, yes, you can start a SMSF and rollover your industry/retail/ employer sponsored superannuation balance and transfer that amount into your SMSF. Once the cash is in the SMSF you are able to take control...

Hi Silverest This was a hot topic during the GFC and if withdrawing without meeting a condition of release was allowed I reckon it would be catastrophic..... So I have included details of what the conditions of release are below which are the standard TTR, preservation age however, it can also...

G'day Clawhammer, Audits are real competitive these days. Back in 2000-2005 we were charging $1000 for a SMSF audits, these days with the outsourcing to India, audits are being done for $100 (yep I have seen them). Our independent audits are done for around $325-375 for vanilla funds and around...

Hi BIGs, Further to the other post, the SMSF should have a corporate trustee. The SMSF will apply for and receive a ABN and TFN. In regards to ongoing costs, it really depends on your preference and the additional service or value add you would like to receive. For a 'no frills' approach...

Hi bloomst, Congrats on making the step in the SMSF direction....There are now 1 million members of SMSFs. For the set up cost, we bill the client on the day of the set up, and the costs are reimbursed once the rollover is complete. I will emphasise that the reimbursement should occur...

Hi guys, Thought I would not start a new thread, however all SMSF Trustees should be aware that the ATO has implemented a new Penalty Regime for SMSFs for contraventions and non compliance issues. http://redwoodadvisory.com.au/ato-announces-new-penalties-for-smsfs/ Any questions please call...

Hey mate, my pleasure, good news....they delayed implementation to 1 July 2015, attached is an email we sent to our clients: ------------------------------------------------------------------------------------ In the last fortnight we have provided instructions for our clients to comply with...