News : Superannuation

Contributions, Superannuation

Make general TBC a threshold standard

Transfer balance cap proportionate indexation Superannuation The Tax Institute Institute of Financial Professionals Australia

The general transfer balance cap should be applied to all super fund members and used as the basis for setting and raising other thresholds.

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Education, Investments, SMSF, Superannuation

Facilitating the education of grandchildren

Education bond SMSF

SMSF trustees can make specific portfolio allocations that will enable them to fund the education expenses of their grandchildren.

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SMSF, Superannuation

SMSFs top member satisfaction again

SMSF Member Satisfaction Roy Morgan

SMSFs were the only part of the superannuation sector to record a positive level of satisfaction in a recent survey of fund members.

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Retirement, SMSF, Superannuation

Definitions key to avoid retirement confusion

Superannuation Retirement definition Financial adviser Accountant Auditor Heffron Leigh Mansell

SMSF practitioners are confusing the definition of retirement for superannuation purposes, but need to be aware there are two ways to view this event taking place.

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Accounting, SMSF, Superannuation, Tax

Timeframe limits foreign transfers

Foreign superannuation fund Lump sum payment Timeframe SMSF Superannuation rules

The Australian superannuation rules make lump sums paid from overseas pension schemes attractive but perhaps unachievable.

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Contributions, Superannuation, Tax

Tax cuts offer super boost

stage three tax cuts superannuation balance concessional non-concessional contribution

Proposed tax cuts later this year will allow superannuants to boost their balances without adversely impacting their cash flow.

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Pensions, Retirement, Superannuation

Living costs hit retirement confidence

Retirement income covenant Retirement savings Superannuation Cost of living

Rising living expenses are causing a growing number of Australians to harbor less confidence in their quality of life as they approach retirement age.

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Auditing, Compliance, Investments, Regulation, Superannuation

Many ways to fix in-house assets

SMSF In-house assets 5 per cent limit Rectify

Trustees do not need to obey the letter of the law when looking to rectify a breach of the in-house asset rules from a practical perspective.

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Compliance, Death benefits, Superannuation, Tax

Non-cash payouts can be a great solution

ATO Death benefit member benefit Superannuation benefit Redemption of investments

A recent ATO private ruling regarding death benefits could have had a different outcome if an alternate redemption process had been used.

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Investments, Superannuation, Tax

Invest stage three savings directly

Stage three tax cuts Superannuation Insurance bonds 30 per cent tax $3 million superannuation earnings tax

Superannuants unable to add planned tax savings to their retirement nest egg can invest in their own name and not via investment vehicles to benefit from the revised taxation brackets.

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