What is an actuarial certificate?
An actuarial certificate is a document prepared by an actuary that certifies how much of a self-managed super fund’s earnings are derived from its members’ accumulation
Clarification on reporting death benefit rollovers and paying death benefits after a rollover
On 22 June the Treasury Laws Amendment (2019 Measures No. 3) Act 2020 amended the law retrospectively with effect from 1 July 2017 to ensure any untaxed element
Is your SMSF diversified?
SMSF trustees need to truly understand diversification and better diversify their portfolios. The benefits of a well-diversified portfolio are numerous but the key ones that
Superannuation death benefit limitations
As an SMSF trustee, you need to take special care when paying death benefits as you are responsible for ensuring that the payment rules are
COVID-19: Providing concessions for the LRBA in my SMSF
The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals. If your SMSF has a related party loan
Reduced minimum pension – Planning Opportunity
As part of the Federal Government’s economic response to COVID-19, the minimum percentage withdrawals from superannuation pension accounts were reduced by 50% as from 24/3/2020
TIME TO TRANSFER SHARES TO YOUR SMSF?
One of the few exceptions where personal assets can be transferred “in-specie” to a Self-Managed Superannuation Fund, is listed shares. These, of course, have to
How is your SMSF performing?
With over 600,000 funds and an average balance of around $1.2 Million, Self-Managed Superannuation Funds (SMSFs) make up for a significant portion of total superannuation
Transition to retirement pensions – are they still effective?
As people age, the everyday grind of full-time work can become increasingly tiresome. At the same time, many still enjoy the interest and challenges of
Early access to your super when the going gets tough
With the prolonged drought and bushfires affecting many farmers and rural businesses across the country, questions are often raised about accessing existing superannuation to ease
Make the most of your super with a personal deductible contribution
Would you like more flexibility with your superannuation but don’t have the option to salary sacrifice? You can now claim a tax deduction on your
Understanding SMSF Trustees
A Self-Managed Superannuation Fund (SMSF) is a type of “trust” and like any trust must be run by trustee/s. However, before setting up it is
What is Salary Sacrifice and is it still relevant?
Under the current rules, the maximum amount of “concessional” superannuation contributions that can be claimed by an individual is $25,000.00 per annum. This is referred
Withdrawing amounts above the minimum super pension requirement
Thinking of withdrawing extra amounts from your superannuation? Here’s what you should do. Superannuation members with retirement phase pensions must withdraw money from their pension
Beyond the contribution caps
Most professionals are aware of the general limits or “caps” on superannuation contributions. Despite there being no laws preventing fund members from making unlimited contributions,
How much do you need to set up a self-managed superannuation fund?
This is a common question for anyone considering setting up their own superannuation fund. It is important to note that there is no mandated minimum
Don’t Forget Your (Superannuation) Cap
My coat stand at home has a lot of caps on it; baseball caps, old school caps, cricket caps, a memento of the Sydney Harbour
What software should I use for my SMSF?
Self-Managed Superannuation Funds (“SMSF”) have a number of unique aspects which mean that standard business software is not suitable for maintaining the relevant accounting records
Deferred farm income – The sleeping giant?
USING SUPERANNUATION TO SLAY THE SLEEPING GIANT OF DEFERRED FARM INCOME Farm businesses can often accumulate “deferred income”: income that would usually be taxed in
Why Choose a Self-Managed Superannuation Fund (SMSF)?
Roughly one-third of all superannuation monies in Australia are contained in self-managed funds and these have continued to increase in popularity with consistent growth over
