News : Strategy

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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Strategy

Bankruptcy can hit fund withdrawals

Bankruptcy SMSF withdrawals

The timing of a withdrawal from an SMSF with a bankrupt trustee can determine whether creditors have access to those funds.

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Strategy

TSB not completely locked down

TSB locked down

A seldom-used option in declaring interests in an SMSF can allow a member to adjust their total super balance downwards and get back under certain thresholds.

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Strategy

Recontribution the best strategy

recontribution strategy

The withdrawal and recontribution strategy has been described as the most significant opportunity for individuals in the superannuation system.

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ATO, Property, Strategy

Downsizer contribution conditions clarified

downsizer contribution funds

Downsizer contributions will not be restricted only to funds secured from a property sale, with the ATO confirming its focus is on the amount and eligibility of the contribution.

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Strategy

Performance will determine spousal splitting method

SMSF performance spousal splitting

Fund performance plays a significant role in determining how splitting orders will be executed when spousal members of an SMSF separate.

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