Protecting your SMSF

Most self-managed super fund trustees don’t give much thought as to how much professional indemnity (PI) insurance their advisor has. But since PI insurance is the only course of action to recover lost funds for trustees who become victims of fraud or negligence, it is an essential prerequisite trustees should be aware of. PI insurance…

Tax-free insurance policy bonuses

After a taxpayer has held a life insurance policy for ten years or longer, the reversionary bonuses received on that policy become tax-free. Life insurance policies are issued by life insurance companies and friendly societies. A reversionary bonus is profit¬†earned annually on traditional life contracts on top of the sum insured that is added to…

Acquiring property through an SMSF

Members of a self-managed superannuation fund (SMSF) looking to acquire property through the fund need to be aware of the risks involved in the strategy or risk substantial penalties. One of the considerations investors should be making if they are deciding to put a property in their SMSF is whether the strategy will improve retirement…