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smsf-investing

Is your SMSF investment strategy meeting diversification requirements?

A new Australian Taxation Office Campaign

As part of their latest campaign, the Australian Taxation Office (ATO) is contacting Self Managed Super Fund (SMSF) Trustees directly where 90% or more of their SMSF’s investments belong to the same asset class (Eg. property). Please note that this correspondence is being sent directly to the SMSF’s business address, and not to us as your tax agent.

Theses letters are legitimate.

So what do you need to do if you receive an Investment Strategy Campaign letter?

Please:

  1. Forward us a copy for our records;
  2. We will review the details of the SMSF; and notify you if any investment strategies or other documentation need updating prior to the next year’s audit.

We do review these regularly as part of the accounting and compliance work that we complete for our SMSF clients, so in most cases there shouldn’t be any further action required. If we feel that further discussion is needed in order to document decisions made in relation to the matters outlined in the ATO Investment Strategy Campaign correspondence, we can provide you with information to assist you in updating your investment strategy.

As always, if you have any questions or concerns please don’t hesitate to contact your Adviser or the SMSF Team Manager Paul Lewty on 07 5437 9900 to discuss your situation in more detail.