Education

A decision made by one trustee — anInvestmentthat breaches the rules, a benefit paid too early, a return lodged late — can expose every trustee to the consequences. The fund is treated as a single responsibility shared by all who run it.

The strategy must consider the risk and likely return of the fund's investments and the benefits of diversification.Diversification— spreading money across different asset types, sectors and, where relevant, geographies — reduces the impact of any single investment performing poorly. A fund is not compelled …

Property brings its own running costs — council rates, water, insurance, land tax, repairs, maintenance and management fees — and these fall on the fund. On top of that sit the fund's usual expenses: the annual audit, accounting, administration and the ATO supervisory levy …

An SMSF can typically hold life (death) cover, total and permanent disability (TPD) cover and income protection cover for its members. Since mid-2014, insurance policies taken out through a fund must align with a condition of release, so the insured event and the circumstances …

Fund assets must be held in the fund's name and kept separate from personal and business assets. This separation is an operating standard, not just administrative tidiness. Mixing fund money with personal money, or using a fund asset personally, blurs the line the system …

• Management fee of 0.39% per annum; fund size of $388.85 million; 59 holdings tracking theNasdaqAustralia Small Cap Select Index

Australia’sCapital Gains Taxframework is set for renewed attention after the 2026–27 federal budget announced significant changes intended to begin from 1 July 2027. The proposals would replace the existing 50% CGT discount with an inflation-based approach and introduce a minimum 30% tax on gains. …