1. Ensure minimum pension standards are met
- If you are using a Transition to Retirement strategy or are in pension phase you need to ensure that at least the minimum pensions are taken before the end of the financial year.
2. Trustee issues
SMSF trustees make sure you have:
- reviewed the SMSF’s investment strategy and ensured assets are within the stated allocation ranges
- considered if it is appropriate to hold insurance for fund members
- ensured all assets are valued at market value for reporting purposes.
It’s a busy time for SMSF Trustees and members at this time of year.
With most SMSF tax returns only just having been completed you will be reviewing the performance of your fund for last financial year and considering all the administration requirements and strategic options for this financial year.
This makes the super contribution tips on the previous page and the tips on this page both important