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Overcoming our behavioural barriers to saving
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Good financial planning finally has a value: 23% more in retirement
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‘Unintended consequences’ threaten SMSF tax reform
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Retirement income: every bit counts
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ASFA continues to sound warnings on retirement savings
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Market Update - October 2014
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The little-known rule with huge implications for self-managed super funds
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Grappling with the uncertainties of retirement
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Change to ATO decision relevant to SMSF in-house assets
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Taking a personal perspective on the global super challenge
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Some terms defined - Super & Investment
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The perils of market-timing and over-confidence
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Market Update – 30th September 2014
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Hardly a do-it-yourself job
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Super insurance: wide coverage, limited understanding
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ASIC eyes SMSF loan sign-off
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Redesigning retirement incomes policy - from the ground up
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Industry terms
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Market Update - August 2014
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Keeping to super's sole purpose
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Taxing times for self-managed super funds
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The relationship between SMSFs and their advisers
Article archive
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Quarter 3 July - September 2014
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Quarter 2 April - June 2014
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Quarter 1 January - March 2014
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Quarter 4 October - December 2013
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Quarter 3 July - September 2013
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Quarter 2 April - June 2013
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Quarter 1 January - March 2013
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Quarter 4 October - December 2012
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Quarter 3 July - September 2012
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Quarter 2 April - June 2012
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Quarter 1 January - March 2012
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Quarter 4 October - December 2011
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Quarter 3 July - September 2011
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Quarter 2 April - June 2011
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Quarter 1 January - March 2011
Quarter 3 of, 2011 archive
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The Budgeting Tools /Calculators on our website have been upgraded.
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Stosur plan an antidote for volatility
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The best performing market over the past 10 years.
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Why it takes courage to stand still
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China buys US for a bargain
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Market Updates - August / September 2011
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Buckle up for a bumpy US recovery ride
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SMSF Management
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How the US debt downgrade impacts Australia
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Mixing business and super
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The tangled web of the Australian housing bubble
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Market Updates - July / August 2011
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Under your control
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Improving your financial literacy is vital to your future ......
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5 reasons you should care about Greece
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The more things change ......  (the Carbon Tax)
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Is the US already in a double dip recession?
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Market Updates  -  June / July 2011
SMSF Management
Severe penalties can be imposed against trustees for failing to act appropriately. One of the prudential requirements of superannuation funds operations is that the fund is not used for personal purposes.

One such rule is that a loan to a member, or a withdrawal without any of the eligibility requirements being met, is prohibited.

In a recent case, the trustees were given a civil penalty of $15,000 for making a loan of $75,000 to a member who got into financial difficulties and "borrowed" from the self managed superannuation fund.

Whilst the borrowing may have solved the short term cash flow problem for the member, the message is clear, superannuation is for retirement benefits only and penalties can be quite significant.

Not only was the penalty imposed significant, but it was also less than the potential one of non-complying status, which would have imposed an even greater tax on the superannuation fund.

If the fund had been wound up by the trustees hoping to prevent this harsher penalty, the Tax Office have found a way around it.

Reference
ICAA March 2011 audio program
- Sole purpose test and civil penalty for SMSF contravention Olsen v Eddy (2001) FCA 13