The Australian --- Page: 9 : 5 September 2007 Original article by Tony Negline
LexisNexis Summary
The self-managed superannuation funds (SMSFs) sector in Australia continues to grow exponentially. The number of such entities increased to 360,000 during 2006-07, up by 40,000. A major part in the boom was played by a grace period ending in mid-2007 that allowed undeducted contributions of up to $A1m. However, there are also certain to be many other reasons why SMSFs are so attractive to investors. While these are not really known, marketing research by the Australian Taxation Office will shed some light on the issue. The agency also warns however that it will crack down on the sector if breaches of tax law occur, and that those considering setting up their own SMSF should take all factors into account.
