News : Strategy

Strategy

Deathbed payments create advice opportunity

Deathbed payments

SMSF practitioners should be looking at how they can assist clients with deathbed payments as many struggle with the complex issues involved.

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Investments, Strategy

Investment strategy has no restrictions

Investment strategy restrictions

Trustees are free to add any asset they wish to their investment strategy as that document has no restrictions on it, but they should still factor in external controls.

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Estate Planning, Strategy

Exempt trust income treatment still unclear

excepted trust income

The treatment of assets passed from a super fund to a testamentary trust remains unclear after changes made in last year’s budget.

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Strategy, Superannuation

Peak TBA level fixes indexation

Peak TBA indexation

The highest recorded transfer balance account amount determines how much of the transfer balance cap indexation an individual is entitled to use.

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Strategy, Tax

Asset segregation timing key

segregated asset SMSF

Attributing capital losses to SMSFs for tax purposes in a segregated asset environment has both pros and cons, a technical expert has said.

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Strategy, Superannuation

Contributions cap breach not catastrophic

Contributions cap breach

A breach of the contributions caps is not a complete disaster as it does not even constitute contravening the superannuation legislation.

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Strategy

Review asset value to cut TSB

asset value TSB

SMSF members who have exceeded their TSB may be able to get under the threshold by revaluing real estate assets within the fund.

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Strategy

Indexation offers tax deduction increase

Indexation tax deduction

The rise in concessional and non-concessional contribution caps as a result of indexation on 1 July could allow for an increase in tax deductions for members.

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Strategy

Stalled bring-forward rules create dilemma

bring forward rules law

SMSF members looking to move large non-concessional contributions into super may prefer to take a tax hit instead of waiting for the bring-forward rules to change.

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Strategy

Death benefit strategy for non-dependants

Death benefit non-dependants

SMSF members can use their fund to pass on benefits to a non-dependant before their death using a legitimate contribution strategy contained within super regulations.

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