SMSF Quiz - May & June 2022
Test Your SMSF Knowledge
Are you ready to deepen your understanding of Self-Managed Super Funds (SMSFs)? Take our SMSF Quiz to challenge your expertise and learn more about key regulations and strategies!
- 11 engaging multiple-choice questions
- Assess your knowledge on superannuation contributions, asset management, and compliance
- Receive instant feedback on your performance
Individuals will be able to carry forward concessional contributions if they have total superannuation balances of more than $500,000 on 30th June of the prior year in which contribution is made.
True
False
If superfund makes a temperory borrowings, the amount borrowed by the superfund cannot be more than _________ of the total value of fund's asset at any point in time.
5%
10%
9.50%
10.50%
Moneis borrowed under a Limited Recourse Borrowing Arrangement can also be used to improve an asset already acquired in past.
True
False
The proportioning rule dictates that the tax-free component and taxable components of a member’s payment must be paid in the same proportion as the tax-free and taxable components of the member’s interest.
True
False
If an individual trustee joins or leaves your SMSF, you must change the names on the ownership documents for each fund asset.
True
False
Any purchase or sale price of fund assets should always reflect its correct market value.
True
False
Which of the following point is non-mandatory in investment strategy?
Risk & return
Liquidity
Member insurance needs
LRBA planning to purchase property
Bring forward arrangement cap limit for members below 65 years age from 01 July 2021:
300000
330000
100000
110000
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