7 actions to take before the end of the financial year

Co-founder of the Switzer Super Report
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June is just around the corner, so it’s time to start thinking about what actions you may need to take before the end of the financial year. While the focus below is for trustees of SMSFs, they just as relevant to investors who are managing their own portfolios and investments outside super. Here are seven actions to take before 30 June.

1. Review your investment strategy

You should review your SMSF’s investment strategy whenever the circumstances of your members’ change, and periodically to make sure it is up to date and meeting your objectives. The transition from one financial year to the next is a good trigger point in this regard.

As part of any review, also consider the insurance needs of your members (life, TPD etc). While you are not required to take out insurance, the SIS Act requires that Trustees review regularly whether their fund holds insurance cover for the members.

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