ATO / Professionals / SMSF / SMSF Compliance / Trustee education

Releasing benefits only under the right condition

A recent case of Mason and the Commissioner of Taxation has highlighted the importance of how and when a member can access their superannuation benefits. Benefits since 1 July 1999 are typically preserved (not accessible) until a member meets a condition of release.  Where the trustee(s) are satisfied that a member has met a condition … Continue reading »

ATO / Contributions / Limited Recourse Borrowing Arrangements / Pensions / SMSF / SMSF Compliance / Trustee education

12 things NOT to do with your SMSF

The ability to take control of your retirement savings is a key driver in the continued growth of SMSFs.  However, being a trustee comes with responsibility to ensure that your fund meets strict regulatory and compliance obligations.  Failure to meet these can result in significant penalties, along with the potential loss of the fund’s complying … Continue reading »

Professionals / SMSF / SMSF Compliance / Trustee education

Unlocking a condition of release

One of superannuation’s great misconceptions is that benefits once somebody reaches age 60 can be taken tax-free. Well, it is correct (from a tax perspective), but what many people tend to forget (or not understand) is that a member must also satisfy the superannuation law requirements to access these benefits.  This is known as meeting … Continue reading »