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The Crystal Ball

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I am sometimes asked what may happen in the future with SMSF?  

Here are a few thoughts.

Given the significance of the SMSF industry, I expect even more government control.  It seems there is a fear in some camps that SMSF may not be for genuine retirement planning.

Regardless of the accountant and auditor used, if the assets of the fund are not invested conservatively, they may come under attack.

It is possible in the future funds earning more than a set amount per year will be taxed.  At this stage the previously proposed tax for income over $100,000 has been stalled, but …

Professionals providing SMSF services will come under increasing scrutiny.  I expect the regular reviews of the work completed by specialist SMSF Auditors to be even more frequent.

If you are worried about protecting your client SMSF’s, ensure all documentation is up to date and financial records appropriate for the fund.  

Do you have SMSF where you have not reviewed their progress regularly during the year?  If so we are able to offer a service to review a sample of funds to help identify any issues.