News : Strategy

Administration, Investments, SMSF, Strategy

Strategy review doesn’t mean changes

SMSF Investment strategy review SIS Act

The mandatory annual review of an SMSF investment strategy should not be confused with a perceived requirement to make changes.

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Administration, SMSF, Strategy, Tax

Family trusts can offset $3m tax

Family protection trusts Estate planning superannuation SMSF earnings tax

Family protection trusts can be used to manage additional tax obligations related to existing or future legislative changes to the superannuation system.

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Retirement, Strategy, Superannuation

Retirement not just about dollars

Retirees Retirement Satisfaction Superannuation

Preparing for a satisfactory and enjoyable retirement involves addressing issues extending beyond the extent of a person’s superannuation savings.

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Auditing, Investments, SMSF, SMSFA, Strategy

Simplify strategies for audit success

SMSF investment strategy audit

SMSF investment strategies that are concise, focused and in compliance with the SIS Regulations are likely to have a better chance of passing the yearly audit of the fund.

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ATO, Compliance, Contributions, Strategy

Excess NCC release authority is default action

excess non-concessional contribution release authority

No formal declaration to adhere with an ATO release authority relating to a breach of the non-concessional contributions cap is required.

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Compliance, Contributions, Strategy, Superannuation

Excess contribution refund needs approval

Excess concessional contributions refund

SMSF trustees who exceed their concessional contribution cap limit should wait for the ATO to issue a release authority before seeking a release of the excess funds.

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SMSF, Strategy, Superannuation, Tax

Earnings tax creating capital gains confusion

$3 million earnings tax capital gains

The inclusion of unrealised gains within the proposed $3 million earnings tax is confusing superannuation fund members.

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Estate Planning, Management, SMSF, Strategy

Power of attorney critical in incapacity

SMSF trustee enduring power of attorney

Nominating an enduring power of attorney prior to the possibility of incapacity is vital for SMSF trustees to avoid lengthy legal proceedings.

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Contributions, Strategy, Superannuation, Tax

2023/24 ideal for concessional contributions

Voluntary superannuation contribution

Trustees contemplating making a voluntary contribution to their superannuation funds should take action within this fiscal year.

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Insurance, SMSF, Strategy, Tax

Insurance source doesn’t impact tax

SMSF life insurance

SMSF trustees are not required to use funds from their superannuation accumulation accounts to cover life insurance premiums in order to qualify for a tax deduction.

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