News : Superannuation

Contributions, Superannuation

NCC bring-forward date confirmed

NCC bring-forward

The official date from when people aged 65 and 66 can use the non-concessional contributions bring-forward rule has been confirmed by Treasury.

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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, Superannuation

ATO introduces SMSF rollover alerts

ATO rollover alert

The ATO has added an SMSF alert service to SuperStream that will notify members when a rollover has occurred.

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Regulation, Superannuation

Six-member bill passes through parliament

six member SMSF

Legislation to allow the creation of six-member SMSFs has passed through parliament, but has drawn a cheap shot at advisers from a senator.

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Regulation, Superannuation

Six-member SMSF law progresses

six-member funds

Parliament has taken action on three separate superannuation bills, extending bring-forward arrangements and moving the introduction of six-member funds a step closer.

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ECPI, Superannuation

Confusion over DSFA trigger

SMSF DSFA criteria

The criteria used to determine whether an SMSF has disregarded small fund assets for exempt current income purposes is still unclear among some advisers.

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Contributions, Superannuation

Easy fix for contribution eligibility question

superannuation contribution eligibility

At the end of the financial year advisers are asking how much their clients can contribute to superannuation, but that should not be the first issue addressed, according to a technical consultant.

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Retirement, Superannuation

AIR applauds minimum pension decision

retirees minimum pension

The government’s decision to extend the period of the minimum pension reduction has been endorsed by the Association of Independent Retirees.

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Compliance, Superannuation

New trustee duty muddies compliance

Best financial interest SMSF

The trustees duty amendment to the Your Future, Your Super will make SMSF compliance more difficult with investments in certain conventional asset classes.

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Insurance, Superannuation

Cancel life cover before starting fund wind-up

SMSF life insurance

SMSFs holding life insurance policies should cancel them before starting the wind-up process to ensure the fund is not incorrectly viewed as active.

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