Protect your SMSF savings from fraudsters

May 7, 2025
Recent cyber-attacks on major super funds show criminals are always looking for new ways to illegally access Australia’s growing pool of retirement savings, but it’s not just the big guys who need to worry. Smaller funds are also under threat. Self-managed super funds (SMSFs) are being targeted both through email scams to steal personal identifying…

The Rich Life Vol 91

March 6, 2025
In light of the severe weather conditions in Northern NSW and QLD due to Cyclone Alfred, we are prioritising the safety of our team and clients. As a result, our office will be closed on Thursday, 6 March, and Friday, 7 March 2025, with our team working remotely to ensure their safety during this time….

The Rich Life Vol 90

February 7, 2025
As we move into the last of the summer months, local commentary is still heating up around where the RBA is heading with rate cuts in 2025, the upcoming Federal election, and the ongoing cost of living crisis – which is still hitting the hip pocket of most Aussies hard. January saw the Centaur Team…

Thinking about an SMSF? Here’s what you need to know

February 7, 2025
Some investors find it satisfying to take a do-it-yourself approach to retirement savings – taking on the responsibility for the growth of their retirement savings in a self-managed superannuation fund (SMSF). While you have total control over how your retirement funds are invested within the confines of the laws, many factors need to be considered…

SMSFs: keeping it in the family

November 13, 2024
Self managed super funds (SMSFs) can offer their members many benefits, but one that’s often overlooked is their potential as a multigenerational wealth creation and transfer vehicle. Family SMSFs are relatively rare. According to the most recent ATO statistics (2022-23), the majority of SMSFs (93.2 per cent) have only one or two members.i Just 6.6 per cent…

Preparing your SMSF for the future

August 1, 2024
What happens to a self managed super fund (SMSF) when a trustee dies or becomes mentally impaired? While these are circumstances that many of us would rather not think about, some time spent planning now could make a big difference to you and your family later. Australia’s 620,000 SMSFs hold an estimated $933 billion in…

An SMSF loan costs more than you think

April 2, 2024
Loaning money from an SMSF to fund members or relatives is against the super laws and can land trustees with big fines, so it’s important to know the rules and not use SMSF savings for anything other than retirement purposes. New ATO estimates show that, in 2020 and 2021, SMSF trustees entered into more than…

The Rich Life Vol 78

February 9, 2024
As February kicks off and with the summer holidays behind us, many of us are settling back into our regular routines and it’s time to turn our focus to the year ahead. Cooling inflation and a strong economy with relatively low unemployment has sent investors back to Australian shares, with the S&P/ASX 200 hitting an…

SMSFs: What happens if you exceed your super caps

February 9, 2024
The rules around making some types of super contributions have been relaxed in recent years, so it’s worth exploring the different opportunities available to you before making a large contribution.i What are contribution caps? Given the tax-effective environment of Australia’s super system, there are annual limits on how much you can contribute each financial year….
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The Rich Life Vol 70

June 1, 2023
Welcome to our June newsletter, as the winter sets in and the end of the financial year approaches, it’s a good chance to spend some time tidying up and reviewing your finances. Concerns that the Reserve Bank may lift interest rates this month, along with the drama over the US debt ceiling and the worry…

Get your SMSF shipshape for EOFY

June 1, 2023
If you have an SMSF, it’s essential to get your fund is in good shape and ready for June 30 and the annual audit. It’s particularly important this year, because the ATO is focused on fixing a number of issues when it comes to SMSFs. These include high rates of non-lodgment and problematic related party loans…
Gold Coast FInancial Planners

Illegal early SMSF access on ATO’s radar

April 4, 2023
Since the Albanese Government announced its intention to double the tax on investment earnings for super account balances over $3 million, there has been lots of talk about taking money out of self managed superannuation funds (SMSFs) to avoid the tax hikes. As SMSF trustees have more control of their super assets compared to those…
The Rich Life Vol 60

The Rich Life Vol 60

August 2, 2022
It’s August and as winter draws to a close there’s snow in the Alps and the wattle is blooming. Many Australians will soon receive a sizeable tax refund, if they haven’t already, which should help ease those rising cost-of-living blues. Rising inflation and interest rates were the focus of attention in July. The US Federal…
Gold Coast Financial Planners

How do SMSFS Invest?

August 2, 2022
As Australia’s system of compulsory superannuation celebrated its 30th anniversary in July, this is a good time to take a closer look at one of super’s biggest success stories – the number of people deciding to take control of their retirement savings with a self-managed super fund (SMSF). There are now almost 607,000 SMSFs worth…
SMSF and EOFY

Get your SMSF ready for 30 June

June 1, 2022
With the end of the financial year (EOFY) just around the corner, it’s important to ensure your SMSF meets its compliance obligations. The rules around SMSFs are strict and if you don’t do things the right way, your fund could end up paying extra tax. Here’s some key tasks trustees need to complete prior to…

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