The Australian Financial Review --- Page: 27-28 : 3 October 2007 Original article by John Wasiliev
LexisNexis Summary
Experts say that superannuation reforms that took effect on 1 July 2007 have significant implications for self-managed super funds. Members of so-called "do-it-yourself" funds must be mindful of the tax penalties that apply when contributions exceed the concessional and non-concessional limits. Fund member also need to understand the application of the sole-purpose test, as well as the importance of ensuring that the fund is fully compliant with any regulations that apply to the super industry.
