In this episode, we explore the ins and outs of in-house assets within self-managed super funds. Lyn Formica, Head of Education and Content at Heffron SMSF Solutions, joins Shelley to explain the regulations, benefits, and risks involved in helping SMSF trustees make informed decisions. With over 30 years of experience providing technical advice to SMSF professionals, Lynn offers valuable insights into managing these assets effectively.


(03:31) Understanding In-House Assets

(05:29) Exceptions to In-House Assets

(06:39) Challenges with Overseas Assets

(08:16) Market Valuations and In-House Assets

(11:43) Related Parties and In-House Assets

(14:32) Trustee Responsibilities for In-House Assets

(21:13) Understanding Trust Legislation and Tainting

(22:11) Timing and Compliance with ATO Rules

(22:56) Dealing with NALI Provisions and Exiting Investments

(24:40) Navigating Trustee Changes and Death Benefits

(27:02) Section 85: Anti-Avoidance Provisions

(34:01) Advising Clients on In-House Assets

(39:58) War Stories and Real-Life Examples

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In today's episode of The SMSF Experts, we’re looking into the essential strategies and insights needed to manage a successful Self-Managed Super Fund. From foundational principles to advanced techniques for tax efficiency and investment diversification, we cover key areas that can make a big impact on your SMSF journey. Joining us is Liam Short, Managing Director of Sonas Wealth. With over 30 years of experience in financial services, Liam is renowned for his practical, holistic approach to helping people take control of their wealth. 

(01:36) The Evolution of Financial Planning

(04:03) Setting Up Your First SMSF: Key Advice

(05:30) Understanding SMSF Returns and Risks

(07:31) The Importance of an Exit Strategy

(11:43) Current Trends in SMSF Investments

(17:34) Common Mistakes and How to Avoid Them

(21:34) The Importance of Trustee Compliance

(21:57) Creating an Investment Portfolio for SMSF Clients

(24:13) The Role of Education in Early Super Contributions

(26:57) Regularly Reviewing and Updating Investment Strategies

(33:33) Navigating the New Division 296 Tax

(36:03) Family Dynamics in SMSF Management

(39:34) Interest Rates and Investment Strategies

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In this episode, we’re deep-diving into the 2024 Annual Benchmark Report from Class Super. The report provides a comprehensive look at the SMSF landscape, highlighting what's working, where improvements are needed, and offering actionable insights for the future.

Joining Shelley are two industry heavyweights: Tim Steele, CEO of Class, and Kate Anderson, General Manager of Operations, who bring over 50 years of expertise in financial services to the table. Shelley, Tim and Kate break down the data together and discuss what it all means for SMSF professionals and trustees.

(00:22) Overview of the 2024 Annual Benchmark Report

(03:17) Discussion on Non-Concessional Contributions

(07:46) Engaging Younger SMSF Members

(14:07) Addressing the Gender Gap in Superannuation

(21:08) Pension Phase Insights and Retirement Strategies

(24:50) Understanding Pension Start Delays

(25:20) Fear of Running Out of Money in Retirement

(26:32) Legacy and Spending in Retirement

(27:45) Division 296 and Its Implications

(28:45) Impact of Division 296 on Property Investments

(31:22) Indexation and Future Tax Implications

(35:29) The Role of Financial Advice in Retirement

(42:23) Technological Advancements in SMSF Management

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In today’s episode, we’re unpacking the arm’s length rules and examining their significance in the SMSF world and their effect on compliance. Joining us to provide expert guidance is Mary Simmons, Head of Technical at the SMSF Association.


(02:56) Understanding Arm's Length Rules

(03:24) Section 109 Explained

(08:38) Real Bargaining and Arm's Length Transactions

(11:00) Practical Examples and ATO Guidelines

(21:02) Loans and Related Party Transactions

(35:59) Documentation and Compliance Tips

Follow Shelley: linkedin.com/in/shelley-banton-0a903a17

For more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au

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For more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au

In Episode 17 of The SMSF Experts, Shelley is joined by Clinton Jackson, a partner at Cooper Grace Ward Lawyers, to discuss the complexities of trust deeds in SMSFs. Shelley and Clinton discuss the importance of having a tailored and flexible trust deed and share practical tips and strategies for ensuring the trust deed is up to date.

(03:49) Understanding Trust Deeds: The Good, Bad, and Ugly
(08:38) The Importance of Corporate Trustees
(10:48) Challenges in Signing and Witnessing Deeds
(17:22) Updating Trust Deeds: When and Why
(20:27) Principal Employer Sponsors: Legacy Issues and Solutions
(25:26) Case Studies: Trust Deed Disasters and Resolutions
(29:51) Dealing with Trustee Disputes

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For more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au

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For more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au

In episode 16 of The SMSF Experts, Shelley is joined by Fraser Jack, founder of the Cyber Collective, as they explore the growing threat of cybercrime targeting the SMSF industry. Shelley and Fraser discuss the alarming techniques cyber criminals use, such as deception, harassment, and hacking, and the importance of protecting client data.

(03:53) - How do you stay in front of Cybercrime?

(05:39) - They aren’t scams, they are crimes.

(08:56) - How should firms respond to ransoms?

(10:54) - Have you seen a ransom payment gone wrong?

(13:45) - What is the likelihood of a data breach within the SMSF industry?

(22:01) - How do you mitigate the remote working risk?

(27:14) - Responsibilities and Legal Implications

(32:32) - The Human Cost of Cyber Scams

(34:36) - Ai and the Future of Cybersecurity

(38:58) - What’s the best or worst scam you’ve seen?

Follow Shelley: linkedin.com/in/shelley-banton-0a903a17

Follow Fraser: linkedin.com/in/fraserjack123

Cyber Collective Website: thecybercollective.com.au

For more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au

Follow Shelley: Linkedin

For more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au