News : Strategy

Compliance, Strategy

Six members may require corporate trustee

Topdocs estate planning

Having a corporate trustee may be the only solution for some SMSFs wanting to increase the number of fund members to the maximum of six.

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Strategy, Tax

Allowance a more solid link to dependency

A sector expert has suggested the payment of an allowance as opposed to specific expenses is a more prudent method of establishing financial dependency and the associated favourable tax treatment in the event of an SMSF death benefit being paid.

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Pensions, Strategy

Pension phase may become redundant

Should the Labor Party’s change to the franking credit system be introduced as law, it may no longer be beneficial to have an SMSF that is purely in pension phase, a sector specialist has said.

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Strategy, Superannuation

Advisers seeking more information on early access

Access to superannuation benefits was a key issue for financial advisers during February, according to AMP.

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Regulation, Strategy, Superannuation

Franking credit policy planning already underway

Trustees and their advisers are considering various strategies to minimise the impact of Labor’s proposed franking dividend policy.

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Regulation, Strategy

SMSF specialist warns of super changes ahead

Accountants need to take heed of Labor’s proposed changes to super and consider how they can optimise their clients’ SMSFs now.

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Strategy

Staying segregated may become a headache

SMSFs can maintain a small accumulation balance to avoid using the segregated method for ECPI and reduce the associated administrative complexities, a lawyer has suggested.

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ATO, Strategy

ATO reserves position contrary to law

The ATO’s current stance on the elimination of some existing reserves runs contrary to the law and may result in SMSF trustees having to set up an accumulation account to ensure compliance in this area, a technical expert has said.

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Financial Planning, Retirement, Strategy

Downsizer measure tops adviser queries

The new downsizer contribution, allowing clients to top up their super from the proceeds of the sale of their home, has come out as the number one adviser query in the September quarter, BT Financial Group’s (BTFG) technical team has said.

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ATO, Strategy

Pre-July 2017 reserves on ATO radar

The ATO is keeping a watchful eye on SMSFs that created reserves just prior to July 2017 in the lead-up to the implementation of the 2016 super reforms, a lawyer has warned.

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