Self-Managed Super Fund Technical Update

If you have a Self-Managed Super Fund (SMSF), you will be interested to know that some new regulations have taken effect.

There are new rules that require SMSF trustees to regularly review their fund's investment strategy, consider insurance for members as part of their fund's investment strategy and to value assets at market value for reporting purposes.

For non – listed assets, market evaluations will be needed periodically.

To remain compliant, you now need to prepare some additional paperwork:

• A minute for trustees to sign confirming they have reviewed their investment strategy,
• Preparation of a new investment strategy to include a statement as to the insurance considerations and SMSF policy for insurance for all the fund members (note - to be prepared by trustees or your financial adviser).

Click here for more information on valuation guidelines for SMSF's.

Questions? Call or Justine Wilson or your Altus adviser.