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The national economy, the value of investments and the ability to manage long-term finances are top of mind of self-funded retirees reeling from the effects of a worldwide economic slump.

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New research from National Seniors Australia (NSA) has revealed that financial concerns are weighing heavily on the minds of self-funded retirees, with emotional themes including feeling of invisibility, vulnerability, insecurity, worry and fear all registered as retiree responses.

In a survey of more than 500 self-funded retirees, the research showed more than three-quarters of the demographic (77 per cent) have concerns about the value of their investments, while 57 per cent have expressed concern about their ability to manage money long-term.

It pales in comparison to the number who expressed worry about the nation’s economy – with 86 per cent indicating that as a concern for self-funded retirees.

“These issues clearly underpin the concerns surrounding stability of retirement incomes based on accumulated funds and assets,” the report read.

Even those older Australians who had stable circumstances prior to the pandemic “are now exhibiting major fears”, NSA highlighted.

And these fears are, unfortunately well placed, with the highlighting of a number of negative financial trends, including: “The collapse and prolonged instability of the stock market; negative to zero returns on Super Guarantee (SG) balances; savings interest rates tracking downwards with the cash rate of 0.25 per cent; cuts to bank dividend; superannuation drawdowns; increased unemployment and even less job opportunities for older workers; slowing or cessation of business income, decreasing home ownership and loss of rental income; and disproportionately high deeming rates.”

As a result, older Australians are exhibiting lower and less stable income, which NSA says is likely to continue for as long as the national deficit is growing and financial and stock markets remain unstable.  

It means “self-funded retirees found themselves among groups impacted by COVID like small-business owners and casual workers, but with less time and capacity to improve their circumstances in the future”.

It argued that the distress that is being felt by Australians “who aspire to be independent of government support must be acknowledged and attended to”. 

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The national economy, the value of investments and the ability to manage long-term finances are top of mind of self-funded retirees reeling from the effects of a worldwide economic slump.

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How much money do you need to set up a self-managed super fund? Let’s see how much starting balance you should have to make your SMSF a cost-effective and viable retirement option. 

Write comment (0 Comments) " ["fulltext"]=> string(5128) "

A popular question asked by prospective trustees of a self-managed super fund is: How much money do you need to set up a private fund? 

While the Australian Securities and Investments Commission (ASIC) has identified a minimum balance to make SMSF a viable option for retirement in a published report, the regulator noted that it was in no way looking to mandate a minimum balance threshold when setting up an SMSF. ASIC stated that the vast difference in the costs in running a private SMSF across the industry and the individual trustee efficiency variability makes identifying the minimum balance for a cost-effective SMSF a tricky business. 

Ultimately, the right minimum balance for everyone considering an SMSF is a fund balance that enables an SMSF to cost less than an alternative superannuation fund, such as a retail super fund.

In this article, we’ll look at the recommended minimum cost-effective balance for an SMSF and how you can manage with a lower starting balance. 

What is the recommended minimum balance? 

According to ASIC’s SMSF report, a minimum balance of $200,000 is required to make a private fund cost-competitive when compared with a large public fund, such as industry or retail funds. This is provided that SMSF trustees will undertake some of the administration responsibilities themselves rather than hire a service provider to take care of all the work associated with the fund. The research took into account the average cost of running an SMSF, with some funds that are cheaper to run and some that are more expensive, depending on fees charged and the service level required.

Among industry experts, the general recommendation for a starting balance is $300,000. But with the costs of establishing and managing a fund declining, due to technology and a rise in outsourcing practices, $200,000 is also a good figure when setting up your SMSF. 

If you want to appoint an administration service that will provide full-time services for your SMSF, ASIC recommends the minimum fund balance to be around $500,000. With this figure, your SMSF will still be cheaper to run than other non-SMSF options. 

What if I have less than $200, 000? 

Can you still start your SMSF with a fund balance of between $100,000 and $150,000? ASIC says a private fund can be competitive against traditional retail personal super funds even if it has a starting balance below the $200,000 recommended threshold, but it will not be cost-effective compared with industry funds and the new lower-fee retail super fund offerings. 

If you are looking to set up an SMSF with less than $100,000 in super savings, ASIC’s research found that $100,000 will only be cost-effective if you plan to make large super contributions or transfer super amounts from other funds within a reasonable time frame. 

What are the risks of having a low SMSF starting balance? 

If your financial resources are within the recommended starting balance, don’t be hasty in setting up an SMSF. Regulators say that while it is viable to start an SMSF with a low balance, it is not entirely advisable. 

According to the Productivity Commission, SMSFs with less than $500,000 in assets are found to perform “significantly worse than standard super funds”. This was backed up by the ASIC,  stating that too many investors are also setting up self-managed funds in inappropriate circumstances. 

The government agencies said that most people who set up or join SMSFs are doing it because an adviser or an accountant has recommended that course of action to them. Financial professionals or advisers hype up expectations of the benefits that come with an SMSF but neglect to highlight the risks. This results in their clients getting a harsh reality check of managing an SMSF. Some people who join SMSFs are either underwhelmed by the results or overwhelmed with the work involved in running a private fund (especially if you are working with a low starting balance). 

Conclusion

If you are considering setting up an SMSF with a scenario below the threshold, ASIC advises potential trustees to ask their adviser why an SMSF would be the best option. Make sure that your financial adviser presents all the pros and cons of becoming a trustee and level set expectations if you decide to set up an SMSF. 

Meanwhile, those with significantly more than $200,000 should still be cautious. Aside from financial resources, SMSFs require a high level of commitment. As a trustee, you will be responsible for the performance and compliance requirements of the fund at some level. 

To learn more about setting up an SMSF, explore nestegg now!

 

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How much money do you need to set up a self-managed super fund? Let’s see how much starting balance you should have to make your SMSF a cost-effective and viable retirement option. 

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As Australia debates the superannuation guarantee, a Wall Street billionaire has pointed out how the system helps with inequality, urging the United States to adopt a similar model.

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In his annual letter to shareholders, veteran Wall Street investor Bill Ackman advised American investors to follow a similar model to the Australian superannuation system to help all Americans enjoy the benefits of capitalism.

“Corporations could be required to set aside a fixed percent of salary or wages in a tax-free investment account for all workers that would also be restricted from withdrawal until retirement, similar to the approach used by the highly successful and popular Australian superannuation system, which has created savings of scale for growing generations of its citizens,” Mr Ackman advised investors.

The investor pointed to Australia’s system, saying building wealth in a similar way in the US would help reduce inequality that is rising in the United States.

“Since the superannuation system’s launch in 1991, Australia now has $2.7 trillion of superannuation assets – nearly twice the country’s GDP. Remarkably, Australia has created the fourth largest pension system in the world, in the 53rd most populous nation,” Mr Ackman continued. 

Making everyone a millionaire from birth

Alternatively to introducing an Australian style superannuation system, the famed investor believes Americans could take advantage of compound interest through a payment at birth.

The government would give every child born in the US a US$6,750 retirement account at birth.

“At historical rates of equity returns of 8 per cent per annum, a $6,750 at birth retirement account – which would cost $26 billion annually based on the average number of children born in the US each year – would provide retirement assets of more than $1 million at age 65,” Mr Ackman said.

He pointed to the growing inequality as many have no opportunity to invest assets, with a system where everyone has money invested solving the problem.

“We need a program that makes every American an owner of the compounding growth in value of corporate America. Compounded returns over time are indeed one of the great wonders of the world, and every day we wait to address this issue, the problem looms larger,” Mr Ackman concluded.

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As Australia debates the superannuation guarantee, a Wall Street billionaire has pointed out how the system helps with inequality, urging the United States to adopt a similar model.

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The former prime minister who introduced compulsory superannuation into Australia has accused the “bitchy” Liberal Party of using COVID-19 to kill superannuation.

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Speaking on ABC breakfast, former Labor prime minister Paul Keating accused the government of being doomsayers, stating the country should use the increased productivity and higher business profits over the last five years to pay for rises in superannuation.

“There’s a reason the stock market is at 6,300. From 1959 until today, we’ve seen a huge increase in the profit share of the economy and a long-term decline in the labour share of the economy,” Mr Keating said.

“The last thing you want is some bitchy performance from the Liberal Party trying to knock off compulsory super.”

Mr Keating pointed out that the politicians that are currently debating whether or not superannuation should rise are getting a significantly higher rate of super than ordinary Australians.

He said politicians get 15.5 per cent super, while the “bitchy Liberals” want to knock off currently legislated 2.5 per cent rise, which will impact Australians for the rest of their lives.

“I’ve been here. All this was said to me in 1992. What did we see? We saw real wages rise for 20 years. Now the average accumulation for every Australian is $230,000, it will half a million in eight years from now. All of this was said before. It’s all wrong.”

The former PM also urged the Reserve Bank to do more to support the Australian economy through buying government bonds as a way of funding wage subsidies and the boosted JobSeeker payment.

Mr Keating said the economy would recover, while people needed the support today.

“We don’t dump them like they’re all happy hanging five on the big wave and all of a sudden they’re in the dumper,” he said.

“What we’ve got to do is see the wave into the beach.”

He said JobKeeper and JobSeeker payments, which the government is scaling down, should be maintained.

“If the Reserve Bank actually got off its tail instead of producing silly little minutes once a month and actually bought more of the bonds and put them on their balance sheet, we could do this without a lot of hurt.”

The RBA launched a bond buying program early to keep the rates low at the start of the crisis, but has scaled back its purchases since April.

“You get all this sort of wise talk, they say, ‘Oh, the Reserve Bank’. Look, they’re basically a bunch of bureaucrats,” Mr Keating concluded.

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The former prime minister who introduced compulsory superannuation into Australia has accused the “bitchy” Liberal Party of using COVID-19 to kill superannuation.

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If the $32 billion taken out of the superannuation system is not put back in, the cost of pension could almost double, with the next generation likely to pay higher taxes, according to an industry body.

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Industry Super Australia (ISA) has warned that the superannuation guarantee (SG) increase must go ahead to avoid significantly lower retirement income and a spike in the aged pension that the group claims would be funded through higher taxation.

New research from ISA shows that a 30-year-old who withdraws the full $20,000 would have $50,000 of additional age pension entitlements, while a couple who both draw the full amount would receive $100,000. But that still wouldn’t be enough to cover the lost super, meaning the two case studies would still be $41,000 and $80,000 worse off in retirement, respectively. 

ISA chief executive Bernie Dean pointed out that avoiding fixing the problem tomorrow due to economic difficulties today does not help Australians in the long run.

“The community knows the government’s dealing with a crisis, but it doesn’t make sense to backflip on the promised super increase when you’ve just let people raid their savings to prop up spending,” Mr Dean warned.

Despite Mr Dean’s warning, researchers in The Grattan Institute have previously found that any shortfall in superannuation would be made up for in higher aged pensions.

While this would put pressure on the government’s purse strings, it does suggest that members’ retirement outcomes would not fall. 

“Although individuals can choose to withdraw and spend their own money under the scheme, the resulting increase in age pension entitlements must be funded by others – likely through higher taxes than would otherwise be the case,” ISA said in its research. 

“This appears to have been overlooked by many proponents of early access to preserved retirement benefits. The costs are so significant because of the loss of compound market rates of return that significantly exceed wages growth and borrowing costs for sovereign governments.”

Early super withdrawals have surpassed initial estimates of $27 billion and are now expected to reach $42 billion. Withdrawals currently stand at $32.2 billion.

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If the $32 billion taken out of the superannuation system is not put back in, the cost of pension could almost double, with the next generation likely to pay higher taxes, according to an industry body.

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SMSFs with outstanding compliance issues should consider making a voluntary disclosure while the ATO still has a more flexible approach in place and before they implement tougher admin penalties, a law firm has said.

Write comment (0 Comments) " ["fulltext"]=> string(3430) "

Recently, the ATO’s acting assistant commissioner for superannuation, Steve Keating, outlined the ATO’s current approach to dealing with SMSFs facing compliance issues and making voluntary disclosures, said Shaun Backhaus from DBA Lawyers.

“The ATO has recognised that many Australians are experiencing financial hardship as a result of the COVID-19 pandemic, and therefore it is not pursuing its usual audit program,” Mr Backhaus said.

“For the time being, the ATO is primarily engaging with and resolving issues for those SMSF trustees who have initiated contact with them, mainly through the ATO’s early engagement and voluntary disclosure program.”

Mr Backhaus said, typically, a voluntary disclosure will involve providing all relevant facts, supporting documentation and a rectification proposal or proposed enforceable undertaking to the ATO.

At the moment, the ATO is seeking to resolve issues while minimising the financial sanctions and penalties that might otherwise be applied during these difficult times, he noted.

“This more flexible approach has been brought about as a result of the difficult environment we all face with the COVID-19 pandemic,” he said.

With the ATO planning to undertake a tougher approach on administrative penalties once it issues its law administration practice statement (PS LA), SMSFs who have compliance issues may want to use the ATO’s voluntary disclosure service sooner rather than later,” Mr Backhaus stressed.

“The ATO has recently reviewed the application of its administrative penalties under s166 of the Superannuation Industry (Supervision) Act 1993 (Cth), which highlighted that its staff have been too lenient in remitting these penalties.

“The ATO wants to rebalance its handling of imposing these penalties with a firmer approach.

“There is no date on when this flexible ATO approach will end, but we suspect that this will depend on when the PS LA issues and how many contraventions arise as a result of COVID-19.”

Mr Backhaus said it’s likely that, in the current environment, there are a considerable number of SMSFs with contraventions as families and businesses focus on paying for immediate necessities rather than complying with the super rules.

“These financial pressures do not, however, provide any excuse or defence for contravening the super rules, and advisers in particular should be proactive in alerting clients that illegal early access to super benefits will still be treated seriously,” he warned.

“Sanctions that may apply to illegal early access could, for instance, include hefty tax and administrative penalties, non-compliance, disqualified status and a range of other penalties.”

He also pointed out that the ATO’s more flexible approach is only applicable to SMSF trustees that make a voluntary disclosure before an ATO review or audit is commenced.

“A different treatment applies if any contraventions arise from any ATO review or audit activity,” he said.

“Most contraventions are reported to the ATO by SMSF auditors engaged and paid by each SMSF via the auditor contravention reporting system. Thus, if there is any contravention, it is likely to be notified to the ATO in due course, and early engagement and voluntary disclosure is generally the best way forward.”

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SMSFs with outstanding compliance issues should consider making a voluntary disclosure while the ATO still has a more flexible approach in place and before they implement tougher admin penalties, a law firm has said.

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string(19) "2020-07-08 05:42:04" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4613 (3) { ["data":protected]=> object(stdClass)#4616 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4615 (3) { ["data":protected]=> object(stdClass)#4618 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(18) "Second article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [9]=> object(stdClass)#4824 (32) { ["id"]=> string(1) "9" ["title"]=> string(17) "Third article URL" ["name"]=> string(17) "third-article-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-07-08 05:42:42" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4617 (3) { ["data":protected]=> object(stdClass)#4620 (1) { ["relative"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4619 (3) { ["data":protected]=> object(stdClass)#4622 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(3) "url" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "3" ["label"]=> string(17) "Third article URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(16) "Related Articles" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [4]=> object(stdClass)#4821 (32) { ["id"]=> string(1) "4" ["title"]=> string(9) "Video URL" ["name"]=> string(9) "video-url" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-19 05:54:21" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "1" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4621 (3) { ["data":protected]=> object(stdClass)#4624 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4623 (3) { ["data":protected]=> object(stdClass)#4626 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(9) "Video URL" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [6]=> object(stdClass)#4822 (32) { ["id"]=> string(1) "6" ["title"]=> string(33) "Image Caption / Video description" ["name"]=> string(31) "image-caption-video-description" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 16:29:55" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "2" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4625 (3) { ["data":protected]=> object(stdClass)#4628 (2) { ["filter"]=> string(0) "" ["maxlength"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4627 (3) { ["data":protected]=> object(stdClass)#4630 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(4) "text" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(33) "Image Caption / Video description" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [3]=> object(stdClass)#4817 (32) { ["id"]=> string(1) "3" ["title"]=> string(6) "Status" ["name"]=> string(6) "status" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:45:26" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "3" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4629 (3) { ["data":protected]=> object(stdClass)#4635 (1) { ["options"]=> object(stdClass)#4633 (2) { ["options0"]=> object(stdClass)#4632 (2) { ["name"]=> string(8) "Inactive" ["value"]=> string(1) "0" } ["options1"]=> object(stdClass)#4634 (2) { ["name"]=> string(6) "Active" ["value"]=> string(1) "1" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4631 (3) { ["data":protected]=> object(stdClass)#4637 (10) { ["hint"]=> string(0) "" ["class"]=> string(9) "btn-group" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(6) "Status" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [5]=> object(stdClass)#4820 (32) { ["id"]=> string(1) "5" ["title"]=> string(22) " Essential information" ["name"]=> string(21) "essential-information" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-25 06:10:20" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "4" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4636 (3) { ["data":protected]=> object(stdClass)#4639 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4638 (3) { ["data":protected]=> object(stdClass)#4641 (10) { ["hint"]=> string(0) "" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(0) "" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(22) " Essential information" ["description"]=> string(35) "3 points that summarize the article" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } [2]=> object(stdClass)#4830 (32) { ["id"]=> string(1) "2" ["title"]=> string(14) "Embedded Video" ["name"]=> string(14) "embedded-video" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2020-06-20 01:43:32" ["created_user_id"]=> string(4) "2351" ["ordering"]=> string(1) "5" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#4640 (3) { ["data":protected]=> object(stdClass)#4643 (4) { ["buttons"]=> string(0) "" ["width"]=> string(0) "" ["height"]=> string(0) "" ["filter"]=> string(0) "" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#4642 (3) { ["data":protected]=> object(stdClass)#4645 (10) { ["hint"]=> string(29) "Paste your embedded code here" ["class"]=> string(0) "" ["label_class"]=> string(0) "" ["show_on"]=> string(1) "2" ["render_class"]=> string(0) "" ["showlabel"]=> string(1) "1" ["label_render_class"]=> string(0) "" ["display"]=> string(1) "2" ["layout"]=> string(0) "" ["display_readonly"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(6) "editor" ["default_value"]=> string(0) "" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "2" ["label"]=> string(14) "Embedded Video" ["description"]=> string(0) "" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(18) "Jeremiah Sebastian" ["group_title"]=> string(22) "Summary points + video" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(0) "" } } ["link"]=> string(71) "/retirement/self-managed-super-fund/ato-flags-smsf-compliance-crackdown" ["image"]=> string(49) "images/article-826x550/binoculars-man-suit-ne.jpg" ["image_alt"]=> string(35) "ATO flags SMSF compliance crackdown" } }