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SMSF update

The vision and intention for SMSFs is that superannuation savings should be invested for the sole purpose of providing retirement savings. However, there exists substantial opportunity for SMSF members to engage in behaviour that is inconsistent with government policy and the purpose of their fund through related party investment. Often this can eventuate as a result of the investment focus shifting, either consciously or subconsciously, from a long term investment and retirement strategy, to one of short term gain. The regulation of this type of unaccepted behaviour was perhaps the primary concern for SMSF members with property investment as they anticipated the release of the Cooper Review findings.

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