Top Navigation

Categories | Trustee education

Practical-SMSF-tips

Practical SMSF tips

In this article I seek to set out some practical tips for setting up SMSFs. Less is more When naming an SMSF, there are basically no restrictions on what name you can choose. As a guiding rule though, in my opinion, the shorter the name, the better. For example, it is perfectly allowable for an [read more]

ATO disqualifies an increasing number of SMSF trustees with adverse consequences

ATO disqualifies an increasing number of SMSF trustees with adverse consequences

The Commissioner of Taxation’s recently released annual report for 2013-14 discloses an alarming increase in the number of self managed superannuation fund (‘SMSF’) trustees (and directors of SMSF trustee companies) that are being declared disqualified persons by the ATO. The figures below on the ATO’s other compliance activities are not remarkable. This other activity includes [read more]

SMSF penalties and sole purpose test illuminated by the Federal Court

SMSF penalties and sole purpose test illuminated by the Federal Court

Two mysteries that loom large on the SMSF landscape are the issues of SMSF penalties and the sole purpose test. However, a recent Federal Court case sheds some light on the uncertainties in these areas. Facts of the case The decision in Deputy Commissioner of Taxation (Superannuation) v Graham Family Superannuation Pty Limited [2014] FCA [read more]

lecturing-melbourne-university

Lecturing at Melbourne University — handout available

Since 2010 I’ve been lecturing at Melbourne University, presenting the SMSF component of the Master of Laws subject ‘Superannuation Law‘. Melbourne University is my ‘alma mater’. I fully enjoyed studying there for my undergraduate degrees and masters degree and I’m always very happy to be able to give back to the legal community. I’m lecturing [read more]

SMSF Trustee Disqualification

SMSF trustees — disqualified due to dishonest conduct

Many do not realise the extent of the disqualified person provisions in the Superannuation Industry (Supervision) Act 1993 (Cth) (‘SISA’). This can result in a person inadvertently acting as trustees of self managed superannuation funds (‘SMSF’) while disqualified. Doing so exposes these trustees to significant penalties. We explore some of the nuances of the disqualified [read more]