The latest figures from the ATO prove the futility of comparing super sectors, according to the SMSF Professionals’ Association of Australia.
Comparing the investment performance of SMSFs with other types of superannuation funds is “fraught with danger”, said SPAA’s director, technical and professional standards, Graeme Colley.
“While methodologies may be comparable, the data collected from the different types of funds is not the same,” Mr Colley said.
“It’s similar with fees. Comparing the operating expenses of SMSFs compared with other types of superannuation funds is difficult. While the ratios used in the ATO statistics may be comparable, the data collected from the different types of funds is not the same.”
Mr Colley has recently commented on the ATO’s data on limited recourse borrowing arrangements, saying the statistics show there is no indication that borrowing numbers are either “exponential or irresponsible”.
“SPAA’s understanding of the current situation is that borrowing has not increased significantly since 2012 and remains a very small proportion of the total value of loans made by banks and other financial institutions,” he said.
SUBSCRIBE TO THE SMSF ADVISER BULLETIN
- 21 Aug 2016Risks flagged with real estate appraisal valuesBy Miranda Brownlee
- 21 Aug 2016Lawyer challenges ATO view on two fund strategiesBy Miranda Brownlee
- 18 Aug 2017ATO locks in details, addresses panic on real-time reportingBy Katarina Taurian
- 18 Aug 2017Data feeds unreliable for new reporting, says mid-tierBy Miranda Brownlee
- 18 Aug 2017Tax component confusion spurs potential tax liabilitiesBy Miranda Brownlee
- 18 Aug 2017Contributions triple in June quarter, survey showsBy Staff Reporter
- view all
- ATO locks in details, addresses panic on real-time reporting
The tax office has addressed several points of confusion with the new events-based reporting regime, locked in key deadlines, and outlined w...read more
- Data feeds unreliable for new reporting, says mid-tier
With an estimated 20 per cent of SMSFs still encountering errors from data feeds, one mid-tier firm believes the ATO should allow SMSF pract...read more
- view all