Every year I get a letter from ASIC that the trustee has to sign to acknowledge that my SMSF has sufficient liquidity to pay its debts, now the industry super funds have called on the RBA to provide liquidity due to the withdrawal of funds from their members. So they can invest in higher risk assets on the belief that they will be bailed out if they breach their duties as trustees?
I never thought of that, so in essence I being a trustee of an SMSF can gear myself into high risk assets, then when it come to paying my pension for that financial year and not having the funds to pay that pension I can go to the RBA for a helping hand. Mmmm something to consider..................please help me RBA I'm struggling! And these are the very same hypocrites who want to shut down SMSF's
