Reversionary income streams and the super reforms
Estate Planning / Pensions / SMSF

Reversionary income streams and the super reforms

With the introduction of a $1.6 million transfer balance cap for a member to move assets into retirement phase, there was much conjecture as to how the Government will provide for a tax dependant beneficiary who was automatically entitled to continue an income stream (as a reversionary beneficiary). Currently, the law allows for a pension … Continue reading »

Another lesson in getting your death benefit nomination right
Estate Planning / Professionals / SMSF

Another lesson in getting your death benefit nomination right

Advisors Beware – “…a rose is in fact a specific flower…” Shakespeare once wrote”… A rose is a rose by any other name…” This may be Shakespeare’s opinion but as far as Justice Mullin is concerned this is not necessarily the case. His Honor presided over a Queensland Supreme Court case determined on the 25th of … Continue reading »

SMSF Podcast Show – Episode #7
Estate Planning / Podcasts / SMSF

SMSF Podcast Show – Episode #7

It is all too often that a lack of appropriate estate planning ends up leading to the courts to resolve disputes over family wealth. With superannuation now a significant part of an individual’s wealth pool, this area is likely to lead to greater dispute through the court system.  Putting in place the appropriate death benefit … Continue reading »

SMSF anti-detriment reserving strategy reborn?
Estate Planning / SMSF / SMSF Strategy

SMSF anti-detriment reserving strategy reborn?

The changes to excess concessional contributions from 1 July 2013 have certainly been a popular outcome for both professionals and individuals who have endured ECT breaches due to the ever-changing contribution caps. As is typically the case, legislative change opens new strategy doors, or in some instances, re-opens once popular strategies.  This is certainly the … Continue reading »

Webinar – paying an SMSF death benefit
Estate Planning / Professionals / SMSF / Webinars

Webinar – paying an SMSF death benefit

Join Aaron for the July webinar on paying an SMSF death benefit, where this session will take an in-depth look at the fund and member-level issues relating to the payments of benefits to beneficiaries, how to apply tax exemption, dealing with various superannuation interests and some key strategies and considerations around estate planning. Webinar details: … Continue reading »

Multi pension strategy gains more power
Estate Planning / Professionals / SMSF / SMSF Strategy

Multi pension strategy gains more power

Understanding the benefits of the proportioning rule when it comes to commencing an income stream can provide significant tax savings, in particular at an estate planning level, where any residual money is ultimately paid to non-dependant beneficiaries.  There has however been a ‘cloud of uncertainty’ with what happens with multiple interests (i.e. pensions) when a … Continue reading »

Certainty on tax exemption with super death benefits
Estate Planning / Pensions / Professionals / SMSF / SMSF Compliance

Certainty on tax exemption with super death benefits

The previous announcement by Government to provide tax certainty for deceased estates had been widely applauded by the super industry.  The MYEFO announcement remedied the Commissioner’s views contained within controversial draft Tax Ruling TR 2011/D3 that stated a pension would cease at the member’s death unless automatically reverting to a tax dependant beneficiary.  These measures … Continue reading »

Is Government policy towards super all out of proportion?
Estate Planning / Opinion / Pensions / Professionals / SMSF / SMSF Strategy

Is Government policy towards super all out of proportion?

Watch this video blog post where Aaron discusses his views on the recent talk around changes to superannuation policy, in particular his thoughts about where the Government would be better served to address the issue of equality in tax concessions. Obviously some of these issues aren’t going to be popular with self-funded retirees, but what … Continue reading »

ATO / Estate Planning / Pensions / Professionals / SMSF / SMSF Compliance / SMSF Strategy / Trustee education

MYEFO provides relief on CGT and death benefits

Whilst much of the focus of the Mid-Year Economic and Fiscal Outlook (MYEFO) has been on the need to find dollars ensure the Labor Government delivers a surplus, the report has delivered some much-awaited news for the superannuation sector the final outcomes of the Commissioner’s views regarding TR 2011/D3, in particular when a pension ceases … Continue reading »