Don't get caught out

Make sure your Self Managed Superannuation Fund (SMSF) continues to be a complying fund.  If you answer 'Yes' to any of these questions, we suggest you call our office to organise a review time.

• Does your fund have a current investment strategy?
• Have you reviewed the fund investment strategy in the last 12 months?
• Does the strategy meet the investment purpose requirements, seek to maximise member returns, reflect member needs and consider asset diversification?
• Have you adopted target ranges for each asset class?
• Have the fund's assets been subject to significant market value changes recently?
• Have any fund members commenced an account based or transition to retirement pension income stream recently?
• Are any fund members nearing 55 years of age or older?
• Are you 60 years of age or about to turn 60?
• Do you need to review what superannuation contributions to invest in your SMSF this financial year to claim an income tax deduction?
• Do you understand the advantages of making non concessional contributions?
• Have you considered transferring your personal and business insurances into your SMSF for cash flow relief?
• Have you considered implementing a binding death nomination?