array(1) { [0]=> &object(stdClass)#6155 (52) { ["id"]=> string(5) "16922" ["title"]=> string(122) "Are you being priced out of the market? Have you got the Tuesday blues? And are you ready for the upcoming super changes? " ["alias"]=> string(118) "are-you-being-priced-out-of-the-market-have-you-got-the-tuesday-blues-and-are-you-ready-for-the-upcoming-super-changes" ["introtext"]=> string(242) "

On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX, upcoming super changes and more.

" ["fulltext"]=> string(936) "

Steve Waters, director of Right Property Group, chats about current property price movements and whether owner-occupiers are being priced out of the market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into the Tuesday blues effect and the implications for Aussie investors.

And lastly, tax and super guru Timothy Munro talks about upcoming super changes and shares his handy checklist ahead of tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2021-06-15 06:25:29" ["created_by"]=> string(4) "2404" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2021-06-15 08:26:44" ["modified_by"]=> string(4) "2404" ["modified_by_name"]=> string(12) "Robyn Tongol" ["publish_up"]=> string(19) "2021-06-15 08:26:44" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(240) "{"image_intro":"images\/podcasts\/060421_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(855) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","send":"0","test":"0","comments":"1","readingDiff":"3","schema_active":"0","schema_name":"","schema_description":"","schema_thumbnailUrl":"","schema_uploadDate":"","schema_duration":"","schema_contentUrl":"","schema_embedUrl":"","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(54) "priced, market, tuesday, blues, ready, upcoming, super" ["metadesc"]=> string(200) "On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX" ["access"]=> string(1) "1" ["hits"]=> string(2) "30" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(3) "936" ["ordering"]=> string(1) "0" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Robyn Tongol" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#6177 (3) { ["data":protected]=> object(stdClass)#6209 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(70) "Retirement - Strategies and Guides for your Retirement Goals | nestegg" ["menu-meta_description"]=> string(191) "We all want to enjoy our retirement, so Nest Egg has compiled a dedicated section to superannuation options, retirement planning, and what you can do to get the most out of your golden years." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(70) "Retirement - Strategies and Guides for your Retirement Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-06-15 08:26:44" ["slug"]=> string(124) "16922:are-you-being-priced-out-of-the-market-have-you-got-the-tuesday-blues-and-are-you-ready-for-the-upcoming-super-changes" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(137) "/resources/podcast/are-you-being-priced-out-of-the-market-have-you-got-the-tuesday-blues-and-are-you-ready-for-the-upcoming-super-changes" ["image"]=> string(65) "images/podcasts/060421_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

Are you being priced out of the market? Have you got the Tuesday blues? And are ...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Retirement

What you need to know before creating an SMSF

By Grace Ormsby

October 14 2019
Share

Retirement

What you need to know before creating an SMSF

By Grace Ormsby
October 14 2019

With last week’s warning that self-managed super funds are not appropriate for all Australians, the regulator has provided food for thought for any would-be investor thinking about such a move.

What you need to know before creating an SMSF

By Grace Ormsby

October 14 2019
Share

With last week’s warning that self-managed super funds are not appropriate for all Australians, the regulator has provided food for thought for any would-be investor thinking about such a move.

The Australian Securities and Investments Commission’s Danielle Press had conceded that consumers are “all too well aware of the potential benefits that might stem from using an SMSF, but are not equally alive to the considerable risks and responsibilities that come with the deal”.

According to ASIC, there are six separate areas that potential investors need to consider when deciding if an SMSF is the right move. These are:

Generally, balances under $500k have lower returns after expenses and tax

This figure was cited in last week’s statement from the regulator and considered an SMSF balance of less than $500k compared with a similar balance held by industry and retail super funds.

In contrast, SMSFs with balances above $500k have returns that are competitive with industry and retail super funds after expenses and tax.

ASIC said anyone being told to enter an SMSF scenario with a balance below the threshold should ask their adviser why an SMSF would be the best option.

It takes over 100 hours a year to run an SMSF

ASIC advised that SMSF trustees spend 8.4 hours a month managing an SMSF, on average.

This equates to over 100 hours per year.

The regulator has reminded anyone thinking about utilising an SMSF that they will need to meet reporting obligations, prepare and implement an investment strategy, adapt to meet members’ changing needs, organise annual valuations of assets where required, keep up to date with changes to law, and manage the SMSF’s administration and paperwork.

The average cost of running an SMSF is $13,900 a year

An individual or couple wanting to be a smsf member will need to pay a set-up fee, an annual SMSF supervisory levy and costs for annual statements.

Tax returns, independent audits, fees for annual actuarial certificates where required, ongoing administration costs, professional investment fees and wind-up fees also need to be considered.

You could face fines or face court where assets are misused

ASIC has reminded individuals that an SMSF and its assets “must be used only to provide benefits to members for their retirement”.

Issues arise where people take money out of the SMSF before they are entitled to and spend it on items including holidays, cars or home repayments, or where they use or access any collectables that the SMSF invests in.

Property can be a risky investment

Residential properties must not be acquired through SMSFs with the intention to be lived in or rented by a member, their family or any associates.

Risks of property investments as outlined by the information sheet include high upfront costs of purchasing property, a range of ongoing management costs, potential for difficulties with selling property quickly, and the ability for property to become untenanted or damaged.

Compliance begins and ends with you

Finally, ASIC outlined that “as an SMSF trustee, you are responsible for your SMSF complying with the law, even if you pay a professional to help”.

If you do not comply, you might have to pay financial penalties, you could be disqualified from being a trustee and have to wind up your SMSF, or you could be taken to court and fined.

In addition, ASIC advised that in the event of theft or fraud, an SMSF trustee will not have access to a compensation scheme that could provide protection.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

Self managed super fund

ASIC winds up companies behind SMSF scam

The corporate regulator has stepped in to wind up several companies that have scammed millions from SMSF investors. ...Read more

Self managed super fund

SMSFs are shunning direct shares in favour of property – but is this a good idea?

For several years, SMSFs allocation to direct shares has been in decline. This trend accelerated after COVID. ...Read more

Self managed super fund

ATO issues draft legislative instrument for SMSF rollovers

The ATO has released a draft legislative instrument for consultation on the payment standard that will apply for SMSF rollovers and release authorities from 31 March 2021. ...Read more

Self managed super fund

Critical steps outlined with property transfers and trust cloning

While trust cloning can be an effective strategy for transferring an asset from a related trust to an SMSF without paying duty, it is vital the right steps are followed to avoid issues with the anti-a...Read more

Self managed super fund

Associations lobby government to ‘level the playing field’ with capital raisings

With SMSF and retail investors often missing out on ASX capital raisings, the SMSF Association and Stockbrokers and Financial Advisers Association have proposed a number of steps that could be taken...Read more

Self managed super fund

SMSF property spruiker sentenced in Brisbane District Court

A former Queensland property developer has been sentenced to five years’ imprisonment after being found guilty of six counts of fraud involving SMSF funds. ...Read more

Self managed super fund

COVID-19 reveals ‘flaws’ with account-based pensions

With the pandemic impacting the financial positions of many retirees, the inadequacy of account-based pensions has left many superannuation fund members exposed, according to a new research paper. ...Read more

Self managed super fund

Government pushed to rule out 3-year audits

While there have been no announcements regarding the proposed three-yearly audit cycle since June last year, one technical expert has urged the government to confirm that the measure is firmly “off ...Read more