Have you taken your minimum pension before 30 June?
Pensions / SMSF / SMSF Compliance

Have you taken your minimum pension before 30 June?

With approximately 40% of all members now receiving an income stream from their self-managed super fund, the need to comply with the pension rules is paramount to the fund’s ability to claim a tax exemption on income supporting pension assets.  The most fundamental element is the need to take the minimum pension.  With 30 June fast … Continue reading »

Commissioner finalises ruling on when a pension commences and ceases
ATO / Pensions / Professionals / SMSF / SMSF Compliance

Commissioner finalises ruling on when a pension commences and ceases

It’s been a marathon, not a sprint when coming to the finalisation of TR 2013/5, which explains the Commissioner’s views from an income tax perspective about when a pension commences and ceases.  After the issuing of the draft ruling in July 2011, the industry has waited (and waited) to resolve a range of important issues … Continue reading »

It’s all in the timing leading up to 30 June
Contributions / Pensions / Professionals / SMSF / SMSF Strategy / Trustee education

It’s all in the timing leading up to 30 June

With the end of the financial year falling on next weekend, the week ahead is the last opportunity for getting contributions into your super fund, plus allowing for withdrawals to meet minimum pension obligations. For those wishing to make contributions into super, these amounts must be cleared within the fund’s bank account this financial year … Continue reading »