As a growing number of SMSF members move to pension phase, the focus of the regulator is certainly shifting to issues such as exempt current pension income (ECPI). A lot of focus has been on the claiming of the tax exemption on fund income, but recently the release of ATO interpretative decision, ATO ID 2012/47 has highlighted … Continue reading »
While the terms “sugar daddy” and “cougar” can conjure up images of Hugh Hefner, Anna Nicole-Smith, Geoffrey Edelsten or Demi Moore (even Stifler’s mom for the American Pie fans!!), there are plenty of real life examples of couples that need to plan for, and deal with, their significant age differences in planning for retirement. It … Continue reading »
The Australian Taxation Office (ATO) has recently released their compliance activity program for 2012-13, which outlines some of the key areas they will focus in respect to self managed super funds including: meeting income tax obligations, in particular on-time lodgement and irregularities with exempt current pension income tax deductions meeting regulatory obligations, in particular new trustee … Continue reading »
Many public and private companies nowadays offer employees the ability to participate in their employee share scheme (ESS) providing employees shares, stapled securities or rights (including options) to acquire holdings at a discount as part of their employment benefits. Typically, when these shares or rights are acquired under an ESS, they are acquired at less … Continue reading »
Well… it’s finally official. The ability to undertake off market transfers of listed shares into SMSFs can continue until 1 July 2013. This Stronger Super recommendation amongst several others has not commenced at 1 July 2012 as expected, with Treasury still working through some significant roadblocks around market manipulation rules contained within the Corporations Act … Continue reading »
There is a growing focus on retirement income streams within SMSFs, in particular with the tax advantages available at both the fund and member level. The Simpler Super reforms have opened up a range of strategies to for advisers and their SMSF members to consider, along with fluctuating market conditions. Join me for this … Continue reading »
The 2011 year was the first year in which baby boomers became eligible to receive an Age Pension. However, for many baby boomers, the ability to draw an income stream has started a lot earlier in life with individuals either retiring well before age 65 or transitioning to retirement. With a SMSF, the ability to … Continue reading »