New super contribution rules for older Australians

August 2020 Superannuation rules are never stable, and the start of the 2020/21 financial year is no different. For older Australians, recent changes to the contribution rules may present new opportunities to contribute to superannuation. The changes are focussed on individuals aged between 65 and 74 and are designed to provide more flexibility in retirement.…

Take control of your super – Time to set up an SMSF?

July 2020 Setting up an SMSF can be complicated.  Not getting it right can materially affect your financial situation and retirement plans. The first question you need to be sure about is whether an SMSF is the right fit.  Seeking advice from an SMSF Specialist can help you determine this answer. Some considerations include: Do…

Super Reference Guide

Updated July 2020 Gain an overview of the 2020/21 financial year contribution caps, eligibility, glossary of key terms and more with our handy Super Reference Guide.  It is a quick reference to help you and your self managed super fund step through the year with confidence. Click here to download the Super Reference Guide.  …

Your Yearly SMSF Planner

Revised as at 10 June 2020 Managing your own super has many benefits, but it’s important to have a plan. There are certain aspects you must consider to ensure you are meeting all of your yearly requirements.  Step through the year with confidence with your SMSF Yearly Planner, detailing what you need to address each…

When failure to meet minimum pension standards comes at a cost

Written by Emma Partenza, SMSF Works, SMSF Specialist Advisor (SSA) May 2020 Overview The primary tax concession for an SMSF that pays a retirement phase pension is the partial or potentially full exemption from fund income tax (15%) on eligible assessable income. However, this is put at risk where the minimum pension standards are not…

Why managing your retirement income is more important than ever

January 2020   Life expectancy in Australia has reached record highs with a male born today expected to live to 80.7 years and a female to 84.9 years, according to the latest figures released by the Australian Bureau of Statistics (ABS). Male life expectancy has increased by 0.2 years over the 2015-2017 to 2016-2018 period,…

Are you across the superannuation death benefit limitations?

November 2019 As an SMSF trustee, you need to take special care when paying death benefits as you are responsible for ensuring that the payment rules are met. Strict rules apply, affecting who can receive a death benefit, the form in which the death benefit can be paid and the timing of such a payment.…

What does it really cost to manage your own super?

November 2019 Working out how much your SMSF should cost to manage is never an easy thing to do. Given the nature of SMSFs and the varying differences between trustees, finding easily accessible and relevant comparisons is difficult. The SMSF Association however has received information from the two largest online SMSF software companies which may…

Is it time to review your fund’s investment strategy?

October 2019 You may be aware that the Australian Tax Office (ATO) has issued letters to nearly 18,000 SMSF trustees as part of a campaign to ensure trustees are aware of their investment obligations. Of key concern is ensuring that trustees have considered diversification and liquidity of their assets when formulating and executing their fund’s…