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Apr 14, 2021 / News
Indexation of the Transfer Balance Cap
The All Groups CPI figure for the December 2020 quarter has triggered upward indexation of the general transfer balance cap (TBC) and any unused part of an individual’s TBC (or “cap space”) from 1 July 2021. This sounds like good news, but the bad news is that the indexation system to be used for any individual’s cap space is so complex that it may lead to errors and unintentional breaches of the TBC rules. Read more
Apr 14, 2021 / News
Non Arm’s Length Income (NALI) & Non-Arm’s Length Expenditure (NALE)
One of the benefits of holding investments through a complying superannuation fund is the concessional tax rates of 15% on income and 10% for capital gains (where the asset is held for longer than 12 months) or 0% after the retirement phase pension commences. Read more
Apr 14, 2021 / News
Your Future, Your Super Legislation Introduced
In our Superannuation Solutions Newsletter edition 8, we explained the changes to the superannuation system announced by the Federal Treasurer in the publication Your Future Your Super. The legislation to implement these changes has now been introduced into Federal Parliament as the Treasury Laws Amendment (Your Future, Your Super) Bill 2021. We take this opportunity to outline two important aspects of the draft legislation. Read more
Aug 24, 2020 / News
Top Five Benefits of SMSF Corporate Trustees
Given the extra costs of establishing a company to act as the corporate trustee of an SMSF, why such growth and what are the advantages? Read more
Aug 20, 2020 / News
COVID-19 Concessions
The following has been taken from the SMSF Frequently Asked Questions page of the ATO website, and may be useful to clients whose SMSFs have been affected by COVID-19. Read more
Aug 20, 2020 / News
Delayed Start to Super Changes
Due to a backlog of legislation and the effects of COVID-19, the Federal Government has announced delayed starting dates for a number of super changes. Read more
Aug 20, 2020 / News
Changes to Testamentary Trusts may Affect Super Arrangements
A recent change to the taxation of trust income distributed to minors (people under 18) means that some clients may need to review their estate planning arrangements in relation to superannuation and life insurance benefits. Read more
Aug 10, 2020 / News
Super Guarantee Amnesty– The clock is ticking
The Federal Governments Superannuation Guarantee Amnesty was given royal assent on 6 March 2020 with a six-month timeframe. Hence, the Amnesty window is due to close on 7 September 2020 - it is just around the corner! Read more
Jun 12, 2020 / News
Your 2020 End of Financial Year SMSF considerations
The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception. While the worst of the pandemic is (hopefully) behind us, trustees still have difficult questions to ponder as they focus on how best to position their SMSF in 2020-21, as well as meet their annual regulatory obligations for 2019-20. Read more
May 07, 2020 / News
50% Reduction in Pension Drawdowns
The superannuation law requires a minimum amount to be paid from a pension account each year in order for the account to be treated as being in retirement phase, and entitle the fund to income tax exemption on income arising from assets represented by the account. Read more
