News : Strategy

Strategy

Strategy review should dig deeper

SMSF investment strategy review

SMSF investment strategy reviews should look into issues beyond returns within a fund to ensure they are fully compliant with trustee obligations.

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Compliance, Strategy

Regular reporting not only about compliance

SMSF reporting compliance

Regular SMSF reporting should be acknowledged for the strategic benefits it brings and not be regarded as just a compliance requirement.

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Strategy

Balance equality boost from new rules

work test SMSF

It will be easier for spouses who are members of the same SMSF to even up their superannuation balance in the 2023 financial year due to the change in the work test rule.

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Pensions, Strategy

Indexation drives need for clear vision

indexation pension strategy

Changes due to indexation and COVID-19-related market movements require backward and forward views when setting out pension strategies.

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Strategy, Superannuation

Trust deed must include certain items

SMSF trust deed

An SMSF trust deed must have a series of non-negotiable items in it, such as rules allowing the use of a contribution suspense account.

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Strategy, Superannuation

Trustees to determine access to benefits

trustees benefit payments

An SMSF technical expert has advised trustees to be more involved in benefit payment strategies and not just rely on advisers to determine the required actions.

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ATO, Contributions, Strategy

Reserving process key to avoiding ATO scrutiny

contribution reserving strategies

Contribution reserving strategies have been given the green light by the ATO, but correct processes remain central to avoiding compliance action.

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Contributions, Strategy

Combined contribution strategy tax bonus

contributions reserving strategy

Combining carry-forward concessional contributions with the reserving strategy can result in a favourable tax outcome for SMSFs.

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Contributions, Pensions, Strategy, Superannuation, Tax

Year-end client considerations

financial year end

The end of financial year is arriving and planners need to ensure clients are prepared for SMSF financials and tax returns by 30 June.

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Contributions, Strategy

New downsizer preservation issue

downsizer super preservation

The reduction in the eligible age for downsizer contributions has given rise to a super benefit preservation issue.

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