Actuarial certificates and the super reforms
Federal Budget / Pensions / SMSF

Actuarial certificates and the super reforms

It was with some interest last week that a single paragraph within the explanatory memorandum for the Transfer Balance Cap rules sparked controversy around the future of actuarial tax certificates for self-managed super funds. Paragraph 3.337 of the explanatory memorandum for the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 outlined: A regulation will … Continue reading »

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 »

The new concept of retirement phase
Federal Budget / Pensions / SMSF / SMSF Compliance

The new concept of retirement phase

One of the most important ‘shifts’ in legislative design with the super reforms has been the Government’s decision to limit the available tax concessions for those individuals drawing an income stream in post-retirement.  Whilst conceptually we understand the notion of ‘retirement phase’, it will now become an important definition within the tax laws to determine eligibility … Continue reading »

Government ban on segregation for large SMSFs
Federal Budget / Pensions / Professionals / SMSF

Government ban on segregation for large SMSFs

In the second tranche of the super reforms, the Government announced as part of its integrity measures for self-managed super funds to explicitly prohibit the use of asset segregation as a method for determining a fund’s tax exemption for an income year where the member was in receipt of an income stream and just before … Continue reading »

Understanding your retirement debits and credits
Federal Budget / Pensions / SMSF Compliance

Understanding your retirement debits and credits

The super reforms from 1 July 2017 will introduce a range of new concepts for post-retirement, along with an obligation to report amounts being transferred into retirement phase so that it is assessed against each member’s $1.6 million transfer balance cap.  This cap is designed to limit the amount of capital that can be transferred into retirement … Continue reading »

Unpacking the pension reforms
Federal Budget / Pensions / Professionals / SMSF / SMSF Compliance

Unpacking the pension reforms

The Government has released for public consultation the second round of exposure draft legislation (and explanatory material) to implement key superannuation measures announced in the 2016-17 Federal Budget.  This release of information included: The introduction of a $1.6 million transfer balance cap and transitional arrangements for individuals who already have retirement phase balances above $1.6 million; … Continue reading »

SMSF Podcast Show – Episode 16 | Understanding the $1.6m transfer balance cap
Federal Budget / Pensions / Podcasts / Professionals

SMSF Podcast Show – Episode 16 | Understanding the $1.6m transfer balance cap

I needed the motivation to get the SMSF Podcast Show back underway and with the release of tranche 2 of the superannuation reform package, this provided an ideal opportunity to get my the podcast back up and running so that I can discuss the impact of the proposed superannuation measures and what you need to be … Continue reading »

Which proposed super policy is better for pensions?
Federal Budget / Pensions / SMSF

Which proposed super policy is better for pensions?

With the battle lines being clearly drawn of superannuation policy in the upcoming July 2 election, I wanted to get a better understanding of the policies of both parties when it came to post-retirement. I read with interest an article in the Australia Financial Review regarding modelling completed by Wills Towers Watson that outlined Labor’s super … Continue reading »

SMSF Q&A: Federal Budget and $1.6m pension transfer cap amount
Facebook SMSF Q&A / Federal Budget / Pensions / SMSF

SMSF Q&A: Federal Budget and $1.6m pension transfer cap amount

  My focus has been to make a positive impact when it comes to self-managed super funds.  Through professionals and trustees, I use my blog and regular training to reach a goal of having a positive impact on the retirement savings of more than 200,000 SMSFs.  It’s a big number, but in my view reachable given the breadth … Continue reading »

What happens at the expiry of a complying pension?
Centrelink/DVA / Pensions / Podcasts / SMSF / SMSF Compliance

What happens at the expiry of a complying pension?

The use of complying pensions within a SMSFs seem to be somewhat of a distant memory, but some do still exist with defined benefit pensions options for both lifetime and life expectancy being used with existing fund members. Given the legacy nature of these income streams, one of the interesting things that I’ve come across … Continue reading »