Ok last day to get your SMSF fund in order and ensure we are making the most of the strategies available to us. Here is a one page checklist of the most important issues that you should address with your advisors well before the year-end. For more detail on each issue visit the full article on The SMSF Coach – EOFY 2013 Strategies
| 1. It’s all about timing! Forget about doing anything for your fund after the Thursday June 27th | |
| 2. Review Your Concessional Contributions – 25K , 25K, 25K max | |
| 3. Review your Non-Concessional Contributions | |
| 4. Co-Contribution | |
| 5. Spouse Contribution | |
| 6. Over 65? Do you meet the work test? (The 40 hours in any 30 days rule) | |
| 7. Check any payments you may have made on behalf of the fund. | |
| 8. Notice Of Intent To Claim A Deduction | |
| 9. Contributions Splitting | |
| 10. Off Market Share Transfers (selling shares from your own name to your fund) | |
| 11. Pension Payments | |
| 12. Reversionary Pension is often preferred option to pass funds to spouse or dependent child. | |
| 13. Review Capital Gains Tax Position of each investment | |
| 14. Review and Update the Investment Strategy not forgetting to include Insurance of Members | |
| 15. Collate and Document records of all asset movements and decisions | |
| 16. June Contributions Deductible this year but can be allocated across 2 years. | |
| 17. Market Valuations of all assets now required | |
| 18. In-House Assets – keep below the 5% limit at all times | |
| 19. TPD Insurance (Total Permanent Disability – basically “never work again” insurance) | |
| 20. Do you need to update to a Corporate Trustee | |
| 21. Check the ownership details of all SMSF Investments | |
| 22. Review Estate Planning and Loss of Mental Capacity Strategies. |
As always please contact me if you want to look at your own options as we are currently taking on new clients. We have offices in Castle Hill and Windsor but can meet clients anywhere in Sydney or online via Skype.
Liam Shorte B.Bus SSA™ AFP
Financial Planner & SMSF Specialist Advisor™
Tel: 02 98941844, Mobile: 0413 936 299
PO Box 6002 BHBC, Baulkham Hills NSW 2153
5/15 Terminus St. Castle Hill NSW 2154
Corporate Authorised Representative of Viridian Select Pty Ltd ABN 41 621 447 345, AFSL 51572
This information has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs. This website provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such.
