Best practice dictates advisers adopt a conservative approach where an SMSF client is relying on ATO discretion regarding a minimum pension breach.

Adding a reversionary beneficiary to a pension is possible but to date such a move has not been tested in the courts of law.

An old actuarial certificate may be used to calculate a fund’s tax position if a new one is unobtainable where minimal change has taken place.

SMSF trustees can lodge their required TBAR more frequently than the soon-to-be mandated quarterly timeframe should it be beneficial to do so.

Budget pressures may head off any increase to the transfer balance cap with the government imposing a freeze to recoup some tax savings.

The ability to estimate a pension commencement value needs to be recognised given the new shorter TBAR timeframe taking effect from 1 July 2023.

Fairness is a criteria that needs to be observed when looking to allocate monies tied up in reserves across all members of an SMSF.