New measures were introduced by Stronger Super on 7 August 2012 that require SMSF trustees:
– to conduct a review of the fund’s investment strategy on a regular basis
– to consider insurance for fund members as part of the fund’s investment strategy
– to value the fund’s assets at market value for the purposes of preparing financial accounts and statements
– to keep money and other assets of the fund separate from any money or assets held by you personally or by a standard employer-sponsor or an associated standard employer-sponsor is now a prescribed operating standard.
All these measures are prescribed operating standards for SMSFs, which means SMSF trustees must ensure they are complied with at all times.