News

Pensions

Minimum pension cut offers TBC gain

minimum pension TBC

Individuals can continue to create transfer balance cap space into the 2023 income year by using the extended reduction in the minimum pension.

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Investments, Superannuation

Asset recognition key in wind-ups

SMSF assets wind-up

The complexity and timeframe involved with an SMSF wind-up can be impacted by the types of assets held in the fund and their inherent characteristics.

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Superannuation

Super gender gap smallest in a decade

superannuation gender gap

The gender gap in superannuation has narrowed further, but is still 20 years from being closed.

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Investments

OpenInvest signs third trading firm partnership

OpenInvest Market Matters

OpenInvest will partner with a Sydney trading firm in the rollout of online portfolios for retail investors.

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Pensions

Tax promise should include reserves

pension reserves tax

An election promise of no new taxes on superannuation may lead to legacy pension reserves being untaxed when commuted under a proposed amnesty.

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Contributions

Downsizer popularity continues

downsizer superannuation contributions

Many older Australians are taking advantage of the downsizer contribution provisions to allocate more money to their superannuation funds.

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Residential Property, Superannuation

FPA questions government’s housing proposal

superannuation home purchase

The FPA has questioned how the government’s super for home purchases election promise will interact with the superannuation system.

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Contributions

Contribution reserve notification can be delayed

reserved contribution

SMSF members have been reminded there is a difference in the time a contribution reserve can be made and the lodging of the documentation for that contribution.

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Contributions, Superannuation

Super access for homes promised

superannuation first home

A re-elected Morrison government will grant access to superannuation to buy a first home and will further reduce the eligibility age to make downsizer contributions.

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Superannuation

Mixed opinions on super election initiatives

superannuation government

Potential negative repercussions could arise by allowing access to superannuation to buy a home, as proposed by the Morrison government if re-elected.

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