The ASX has communicated to all market participants of an industry-wide ASX settlement failure that occurred on Friday the 20th of December. This failure has meant that CHESS was not able to complete market settlement on Friday and has deferred settlement to Monday the 23rd of December. For those clients who had sell trades settling on Friday we have ensured those sale proceeds have been made available to you for trading on Monday. Stock delivery for clients who had buy trades settling will need to wait until Monday before the shares become available to sell. We apologise for any inconvenience this ASX outage has caused.
Smsf strategies, benefits and traps you need to know
Self-managed superannuation funds make up 30% of the $2.3 trillion total superannuation pool and there are more than 1.1 million SMSF members, according to the Australian Taxation Office. From gearing to renting out vintage wedding cars, SMSFs offer investors the ability to deploy a wide variety of investment strategies and the structure provides various tax and other benefits. However, investors need to understand the complexities and obligations involved in running an SMSF.
In this episode of Your Wealth, Gemma Dale talks to Peter Hogan, Head of Technical at the SMSF Association, about:
- Investment strategies available to SMSFs,
- The proposed change to the maximum number of SMSF trustees and members,
- What to be cautious of when borrowing inside an SMSF,
- In specie transfers and contributions, and
- How SMSFs can be used to introduce kids to investing.
Access this and previous episodes now on iTunes, Podbean or at nabtrade.com.au/yourwealth.
