ATO’s about face a positive outcome for ECPI
ATO / Pensions / Podcasts / Professionals / SMSF

ATO’s about face a positive outcome for ECPI

Earlier this year, we saw the ATO appear to ‘move the goal posts’ when it came to applying exempt current pension income (ECPI) within a SMSF. This guidance provided by the Assistant Commissioner, stated two critical changes in calculating and reporting ECPI: to be exempt from an actuarial certificate, you must use the segregated method … Continue reading »

An election that can provide a better alternative
Pensions / Professionals / SMSF / SMSF Strategy

An election that can provide a better alternative

  Whilst we await the upcoming Federal election, an important election of a pension kind was confirmed as a result of the Commissioner’s final views as to when a pension commences and ceases. The ruling outlined circumstances that where a member wishes to partially commute their pension, a payment made as a result of the … Continue reading »

ATO / Pensions / Professionals / SMSF / SMSF Compliance

Don't be short-changed with tax deductions when in pension phase

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 »

Estate Planning / Pensions / Professionals / SMSF

Death and Taxes with Super Benefits

There has been a significant amount of focus on the benefits of reversionary pensions since the ATO released draft tax ruling, TR 2011/D3.  The ruling considers the issue of where a pension will cease in the event of death where there is no automatic reversion to a beneficiary.  This reversion will only occur where either: … Continue reading »

Contributions / Professionals / SMSF Strategy / Trustee education

How a re-contribution strategy can save you and your family thousands of dollars

A recontribution (or recycling) strategy is a simple yet highly effective strategy in early retirement that when used effectively can save a member or their beneficiaries many thousands of dollars. The strategy involves a process of withdrawing benefits from a member’s superannuation account and then making a non-concessional contribution (NCC) of the same money back … Continue reading »

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

Can you establish a reversionary pension after a pension has commenced?

The impact of  ATO draft tax ruling, TR 2011/D3 has sparked a significant amount of interest in how income streams are structured for SMSF members, in particular with those who have not originally included a tax dependant reversionary beneficiary in the original terms & conditions of the pension.  The draft ruling states that a pension will cease … Continue reading »