MK70Thanks. I didn't think I was getting close to being at risk,...

MK70

Thanks. I didn't think I was getting close to being at risk, and I agree you could do an awful lot more trades than me without attracting attention from an auditor or the ATO, especially if your activity was consistent with a up-to-date investment strategy for your SMSF to build and preserve wealth.

But some of the comments going round on this thread strike me as a bit cavalier when we are talking about people's largest or second largest asset (after their house), and the one they and their family are going to depend on in their old age. Several contributors have stressed the need to be careful and to get proper professional advice if in doubt, and they are right.

Typical of the ATO to miss the plot. I wish I had gone to cash at the end of 2007 and stayed there through 2008. I'd be feeling very smug and telling everyone what a brilliant investor I was.

ubhopeful