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As running an SMSF is a huge undertaking, you want to make sure that your fund performs well.

Achieving this is a simple matter of approaching your fund with the right mindset. You want to ensure that those involved and other key aspects are accounted for. Here are three things you must make sure you’re doing.

Last week's budget certainly brought about a few negative features for superannuation, now Finance Minister Penny Wong has gone on record as saying that further savings/cuts will be made if needed to get Australia into surplus.

A great advantage of an SMSF-run pension is that assets that work towards your pension are exempt from tax. However, this advantage comes with a large issue that must be considered.

In accordance to the ATO, if an individual with a pension passes away then their pension ceases to exist. Regarding an SMSF pension, that means that all assets tied to that pension are also no longer tax exempt.

While some of the worst fears that the government would grab and tax super funds have not occurred, the measures that were announced fit within the budget's theme according to The Australian Newspaper’s headline “Smash the rich, save the base”.

The two major superannuation issues are:

The more assets your self-managed super fund has, the better. That naturally makes sense because more assets means more money for retirement.

But there is another way in which a greater number of assets can benefit your fund, and that’s in running costs.

Making sure your SMSF invests in the right things is paramount to running a successful self-managed super fund.

To do this, you must have an investment strategy for your fund. Whether arranged handled by one or all trustees of the fund, it should be created for the sole purpose of ensuring that all fund investments are held for benefit of the members.

Back in 2009, fund manager Trio Capital collapsed and lost more than $100 million for investors due to a case of fraudulent investments.

While questions haven’t been raised concerning Trio’s involvement in the fraudulent overseas investments that took place in the Caribbean, this is a notable case about how you should be careful when it comes to what you invest in - especially if you have an SMSF.

With the Budget fast approaching the Government have already made it clear that they will tax superannuation contributions for those who earn more than $300,000 at 30%. 

If the government has decided that superannuation can be plundered this easily what else might be on the super tax agenda?

If you want a super advisor to help you with your SMSF, it’s important that you talk to one who understands their field of expertise.

I’ve listed five key ways for you to assess whether the advisor you’re talking to understands all things about having an SMSF.

According to a news story in the Sydney Morning Herald, more than $30 billion in tax breaks could be at risk.

Believed to be the result of an attempt to search for savings to bring the May 8 budget into surplus, Labor is reportedly considering to increase the tax on the super contributions of high income earners who only pay 15% on super contributions.