Key considerations for SMSF trustees before 30 June 2016

As the end of the financial year quickly approaches, Trustees of a self-managed superannuation fund (SMSF) should be mindful of the implications of the imminent 30 June 2016 date.

In particular SMSF’s containing Limited Recourse Borrowing Arrangements (LRBAs) or collectables should be thoroughly reviewed prior to 30 June 2016.

With the ATO now having power to penalise Trustees who don’t comply with super legislation on an individual basis, we look at key considerations for SMSF trustees to ensure the ongoing compliance of their Fund.

The following articles provide an overview of the key issues of which you need to be aware.

Does your SMSF have a Limited Recourse Borrowing Arrangement?

Does your SMSF hold collectables?

Are you over 55 or drawing a pension?

What are the contribution caps?