Articles by Darin Tyson-Chan

Business News

Knowing which pension to commute

A specialist superannuation lawyer has suggested advisers apply a rule of thumb to determine the correct pension to commute in cases where a client’s transfer balance cap is greater than $1.6 million and they have an income stream that consists entirely of a tax-free component and another comprised entirely of a taxable component.

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ATO

Actuarial concerns over segregated method

The Institute of Actuaries has expressed its concerns regarding the ATO’s approach toward the use of the segregated method within an SMSF when determining assets that have been used to support an income stream or streams.

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Business News

Downsizing measure could boost SMSF numbers

The number of SMSFs in Australia could increase as a result of the housing downsizing measure contained in this year’s federal budget, a chartered accounting firm has said.

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Residential Property

First Home Super Savers Scheme not for SMSFs

SMSFs are not a suitable vehicle to facilitate the First Home Super Savers Scheme due to the nature of the structures and the flow-on effects that may result from the strategy, a specialist superannuation lawyer has said.

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From the Editor

Don’t dream it’s over

So the 2017 budget has been handed down and everyone in the SMSF community breathed a collective sigh of relief that the sort of superannuation pain witnessed the year before was not repeated.

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Business News

Early release scheme operator convicted

A South Melbourne man has been convicted and fined $6000 in the Melbourne Magistrates Court after pleading guilty to operating an unlicensed financial services business promoting the early release of retirement savings benefits through SMSFs.

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Compliance

Real-time reporting nothing to fear

SMSF trustees should not be concerned the obligation to adopt real-time reporting, as a result of the super reforms brought down in last year’s budget, will lead to a significantly onerous administrative burden for their funds in the future, a technical expert has said.

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Business News

Income, volatility still among pain points

Annual investor research performed by AMP has identified generating income and managing the volatility of equity markets as two significant concerns for SMSF trustees.

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Compliance

TBC of most concern to trustees

Knowing how to comply with the $1.6 million transfer balance cap (TBC) to be introduced on 1 July is the issue SMSF trustees are most worried about as indicated by the five most frequently asked questions of the ATO.

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Direct Property

SMSFs set for higher direct property costs

SMSFs holding direct property within their investment portfolios could experience an increase in administrative costs from 1 July onward due to changes in the treatment of some expense items.

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