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John Maroney

February 2023

Consensus is emerging on how to make financial advice more affordable

Financial advice review leaves accountants out in the cold

The Quality of Advice Review has a lot of good stuff, but the conversation is ongoing for specialist advisers and accountants.

January 2023

The simplistic approach based on just cost and investment competitiveness was never valid.

Why you need more than just $200,000 to start your own super fund

It’s not only about the starting amount, says the regulator – arguing the point with two different case studies.

December 2022

It’s conceivable that the forced sale of fund assets to reduce a member’s balance below the cap may have a knock-on effect on other members in the fund.

Run your own super fund? This is what to watch out for in 2023

With government proposals to cap large super balances, there are four key issues to consider.

Discounted cinema tickets are available to some cardholders.

How retirees can save more than $3000 a year

The income threshold for eligibility for a Senior’s Health Card has just been significantly increased in a gift to many self-funded retirees.

November 2022

AFR

When stepchildren miss out on inheritance

An ATO ruling that excludes family members on the death or divorce of their natural parent seems arbitrary in a society where blended families are widespread.

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October 2022

Deciding who gets your super after you die? Follow these three steps

The High Court decision in Hill v Zuda has given trustees greater certainty around binding death benefit nominations.

September 2022

An accountant’s ability to explore different scenarios with clients is not permitted unless he or she is licensed to provide financial advice.

Why SMSF trustees could be big losers

Accountants are crucial to DIY super funds, yet their role has been overlooked in the Quality of Advice Review.

August 2022

It’s important to be aware of the 75 age limit and whether the recontribution strategy involves the full commutation of an existing pension.

Hottest new super strategies to help your kids and spouse

Recontribution tactics made possible by new rules are a game changer for older Australians and their families.

July 2022

SMSF investors should be able to get advice solely related to starting a pension rather than receiving unnecessary planning and compliance.

Why rules need to change on SMSF financial advice

The Future of Financial Advice Review offers an opportunity to get the balance right on compliance versus cost.

June 2022

Self-managed super is all about control of one’s own finances.

Why self-managed super funds are anxious about these 3 reforms

The sector is waiting to see if the Labor government will proceed with some crucial changes that were in the pipeline before the election.

May 2022

The law has been amended to reduce the eligibility age to make downsizer contributions into superannuation from 65 to 60.

What the new super rules mean for those aged 67-75

From July 1, they will be able to contribute without having to meet the work test, but they need to watch out for contribution caps and tax deductions.

April 2022

A reversionary pension enables a dependant to be nominated to automatically receive the deceased’s super pension.

Why poor SMSF planning will leave less for your heirs

A well-considered estate plan will make life easier for any beneficiaries – the invaluable parting gift.

March 2022

Assets like bitcoin and dogecoin are still speculated on mainly by younger generations.

SMSF investors too cautious to catch crypto bug

Just 0.6 per cent of SMSFs held cryptocurrency in 2020 and the sector remains wary. Regulators would like to keep it that way.

February 2022

Investors between 25 and 44 made up 45 per cent of those starting their own super funds.

Self-managed super sign-ups surge as costs and performance improve

It might seem counter-intuitive, but economic and social crises give SMSFs greater appeal.

January 2022

For trustees who overstep the regulatory mark, it’s worth appreciating what the penalties could be.

Common SMSF trustee mistakes that will trigger ATO action

The Australian Taxation Office takes a dim view of non-compliance:  penalties range from fines to freezing the fund’s assets.

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December 2021

The government wants to lower the age for downsizer contributions from 65 to 60 from July 1, 2022.

What’s ahead for SMSF trustees in 2022

An election year means super reforms could be scrapped, with more changes on the cards if there is a change in government.

The changes may be even more flexible than first thought, with the legislation allowing someone aged 74 with a total super balance of less than $1.48 million being able to contribute the full bring-forward amount of $330,000 in one hit.

More flexible super contribution rules in the pipeline

Legislation before Parliament will allow substantial top ups to retirement savings for those aged 67-74.

November 2021

Some scammers copy legitimate websites and use names lifted from the internet.

SMSF scam alert: how I was offered returns of 18-24pc

An approach to SMSF Association chief John Maroney serves as a warning not only to DIY fund trustees but to all investors.

October 2021

SMSF members are engaged with their super – but often can’t get the advice they often sorely need.

Who is the expert steering your SMSF?

If you’re not across non-arm’s length expenditure rules or whether a six-member fund would suit you, it’s probably time you received specialist advice.

July 2021

Big families may benefit from the ability to add 6 members to an SMSF.

When six is a crowd in an SMSF

Large families may benefit from new rules allowing up to six members of a self-managed super fund, but broadening access can also lead to dysfunction.

Original URL: https://www.afr.com/by/john-maroney-p4yvls