Changes to Self Managed Super Funds in 2015
A self managed super fund (SMSF) can be a great way to run your own superannuation investments and retain control over assets and decisions. However while there are a number of upsides for the right clients when it comes to running a SMSF, one of the downsides is that you – as the trustee – are completely responsible for the fund. This can become a little more complicated when there are changes to existing legislation, so it’s vital that you always remain aware of the rules and any amendments that occur. With the Federal Government’s budget repair strategy, there have been a number of key changes in the 2015 tax year that should be noted.