A number of factors should be considered when a member is planning to convert a Transition to Retirement Income Stream (TRIS) to an Account Based Pension (ABP) Let’s first briefly summarise the features of each type of pension. An Account […]
A member with an Account Based Pension must meet their annual minimum pension payment requirements. This minimum amount is determined by the member’s pension balance as well as their age as at 1 July of the relevant year as specified […]
In order for a member to be eligible to commence an account based pension within their superannuation fund, a condition of release must be satisfied. Under Superannuation Industry (Supervision) Regulations 1994 – Schedule 1, the following condition of releases are […]
Wouldn’t it be great if you understood how an auditor arrived at the conclusion of having to notify the ATO of a fund breach? Today, we open up the curtains and show you the guidelines that all auditors MUST adhere […]
Historically, good news can be hard to find when reviewing the annual federal budget over the last couple of years, however the 2019/20 federal budget came with some genuine positives. Treasurer Josh Frydenberg, announced the following major changes: Forecasted $7.1 […]
Limited Recourse Borrowing Arrangements (LRBAs) have been a very popular gearing strategy over the past number of years. We have seen many funds acquire assets that would otherwise be out of reach such as property with the intention to help […]
It’s a new year and by now you should be well and truly rested, back from your break and ready to attack 2019 head on! The start of a new year will generally be a great time for your firm […]
With the $1.6m transfer balance cap (TBC) in effect, consideration should be given to how a fund maximises the amount it has in pension phase. By achieving this, the fund can therefore maximise tax savings associated with a 0% tax […]
We are deep in the SMSF silly season and by now, your firm SHOULD have lodged its first batch of quarterly Transfer Balance Cap Reports (TBAR) for the September 2018 quarter. In our previous blog we detailed what the new […]
Continuing on with the trend of increased complexity, the SMSF sector has seen more changes to legislation, this time with regards to the calculation of its exempt current pension income (ECPI). These changes are already in effect and apply for […]
