Issue: 266
Sent: 31-05-2011 12:02:00
In this issue:

The Value of a CEOA How To Book Of Self Managed Super FundsATO March '11 SMSF Statistics and AAT case
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ATO March '11 SMSF Statistics and AAT case

Click here to buy - A How To Book of SMSF's by Tony Negline
Tony Negline

This week two topics about Self Managed Super Funds:

a. ATO March '11 SMSF Statistics

The ATO released this about two weeks ago. There are now about 450,000 SMSFs with over 850,000 members. The ATO estimate that total SMSF assets are about $432 billion.

These remain very strong growth rates even though the recent March quarter was not as strong as the same period in 2010.

Nevertheless there is now much debate about whether or not this strong growth rates can continue.

The recent Russell Investments research suggests that it can.

The financial services market will be very different if it does. I've often wondered if Paul Keating and his advisers could see that small super funds would become the biggest sector in the super landscape.

There's probably some sort of PhD thesis in this area for someone really interested in this political analysis. The answer to this question is more important than many realise.

If these serious players in the public space had no real knowledge about the medium term outcomes of their selected policy settings then what was missing from their analysis?

One mistake which has become fashionable over the last few decades has been to discard the "corporate knowledge" of the people who have come before us. We see this everyday when the same mistakes are made by the new people on the block.

b. True Lies

A recent Administrative Appeals Tribunal case has brought into clear focus the danger of having parents and their children in the same small super fund.

In this case the son, a drug addict, illegally took all the money out of the super fund and his actions were then kept hidden from the Tax Office for five years.

The ATO took the view that the fund's complying status should be removed and the AAT agreed.

This is a tragic case. I have more to say about this in my DIY Super article in The Australian on 1 June.

Finally please consider purchasing a copy of this book "A How To Book Of Self Managed Super Funds". You can look at the contents page at the following link:

The 5th edition has just been released.

For details of the changes made from version 4 to version 5 visit:

As you'll see from the list there have been many changes.

Two purchase options are available - once only subscription - $55 inc GST - or an annual subscription will gives you access to all the updates made throughout the year ($120 inc GST). The book can be purchased at the following link:

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This email is general in nature only and does not constitute or convey specific or professional advice. Legislation changes may occur quickly. Formal advice should be sought before acting in any of the areas discussed. Be aware that the information in these articles may become innaccurate with time. Responsibility is disclaimed for any inaccuracies, errors or omissions. Particular investments are neither invited nor recommended and hence this publication is not "financial product advice" as defined in Section 766B of the above legislation. All expressions of opinion by contributors are published on the basis that they are not to be regarded as expressing the official opinion of any other person or entity unless expressly stated. No responsibility for the accuracy of the opinions or information contained in the contributor's articles is accepted by any other person or entity. Copyright: This publication is copyright. If you wish to reproduce this article you require a license, which can be purchased here, to do so.

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