SMSF Strategy in 2022 to 2025

SMSF Strategy in 2022 to 2025

I love SMSF strategy, as do thousands of accountants, financial planners, mortgage brokers and lawyers.  There are now more than 12,000 professionals working in the SMSF space and it is estimated that fees are in excess of $4Bn per annum.  Who, apart from me and a few other advisers, would have ever thought from nowhere 28 years ago that SMSFs are one of the biggest games in town?

Personally, I find it liberating that employees, business owners and retirees have chosen control of their own super destiny rather than leave the investment, administration and strategy to the big end of town.  And now the big end of town is having to change their game plans to meet the huge shift of assets into SMSF – particularly with six member SMSFs now part of the strategic opportunity.  With over $876 billion in assets and more than 1.1 million members – SMSFs can no longer be ignored by anyone in the financial services industry.
In fact, in the last year SMSFs have grown by more than $100 Billion and heading toward $1 Trillion by 2025 as the next generation makes its move into SMSFs.

But with all the new advisory entrants into the market and SMSF professionals getting ever younger, making strategies work consistently and compliantly is a tough ask.  The ATO is getting ever stronger in its compliance.  That is why experienced SMSF strategists are worth their weight in gold.

  • Are you a SMSF Strategist?
    So, let’s test your strategy skills to see in 2022 where you are at.  Can you answer the following questions for me?
  • 1. Can an accountant and tax agent advise on SMSFs without a license?
  • 2. Can a SMSF run a business?
  • 3. Can you pay a death benefits pension to a grandchild tax free?
  • 4. Can a SMSF invest in Ethereum?
  • 5. Can a SMSF engage in property development with a related party?
  • 6. Are there tax advantages to contribute in excess of the concessional contributions caps?
  • 7. Can a six member super fund have only one trustee?
  • 8. Can members live in Italy and still have an Australian SMSF?
  • 9. Can related party company shares be transferred into a SMSF?

If you answered NO to any of the above, then you have got some learning to do and let’s get right to a solution. LightYear Docs and it’s partner legal firm Abbott & Mourly Lawyers are dedicated to building business, strategy and opportunity for advisers, with or without a license.

On 9 – 11 May 2022 we have our first three day SMSF Strategy course in four years – all updated and current to 30 June 2022, which is RG146 compliant and has yours truly, Grant Abbott going in depth on the law, ATO rulings, case studies and rulings.  If you would like to know more you can find full details here – but before you click on the Register button please contact Talitha – for a special early bird deal.

  • SMSFs in 2025
    I haven’t made a SMSF industry prediction for a few years now but here we go for 2025:
  • 1. There will be 650,000 SMSFs
  • 2. In terms of assets there will be more than $1,000Bn or $1 Trillion
  • 3. Generation X and Millenials will be the fastest growing SMSF group and they will form part of a larger succession, asset protection and estate planning structure
  • 4. Family SMSFs will take superannuation monies from industry and retail super funds
  • 5. Accountants will be able to continue to use the current ASIC exemption from licensing – particularly tax agents
  • 6. SMSF estate planning will be the big fee for service winner for advisers
  • 7. Transition to retirement strategies will be no more
  • 8. SMSF Administration will be preferentially outsourced with fees below $800 excluding audit
  • 9. Audits will be automated and $300 in 2020 terms
  • 10. SMSF strategies will be automated and seamlessly integrated with accounting, audit, investment, banking and insurance platforms enabling direct client as well as adviser access

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