In a follow-up to my last blog post about “falling short with pension payments”, I’ve had a range of questions being asked about the ATO’s view when a trustee may not meet the pension standards and when the Commissioner may use his powers of general administration (GPA) to allow for a pension to continue, along … Continue reading »
There is a growing focus on retirement income streams within SMSFs, in particular with the tax advantages available at both the fund and member level. The Simpler Super reforms have opened up a range of strategies to for advisers and their SMSF members to consider, along with fluctuating market conditions. Join me for this … Continue reading »
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 »
As the 2011 year comes to a close, it’s a time to ponder where the SMSF industry has come from in the last 12 months and also where it is heading… This time last year, we had just seen the Government’s response to the Cooper Review, with many of these reforms now only 6 months … Continue reading »
With 2011 representing the first year in which baby boomer’s can qualify for the Age Pension (born in 1946), retirement income streams are growing in importance for many Australian’s looking towards the next stage of their lives. According to well-known demographer, Bernard Salt, “Baby Boomers will never retire. Their parents retired; old people retire; obsolete … Continue reading »
The last month or so has seen the ASX recover strongly after a disastrous start to the new financial year. Whilst we are well short of the ASX highs of mid-2007, we may start to see some further gains with some hopeful news emerging from Europe and other parts of the world. As a result … Continue reading »
The SMSF Academy is pleased to introduce the October 2011 half-day SMSF workshops on Pensions and Estate Planning. These SMSF workshops will work through case studies to outline key issues and strategies in these topical areas, in particular in light of the ATO’s draft ruling TR 2011/D3, when a pension commences & ceases. Due to the workshop format, numbers are … Continue reading »
Watching the current turmoil on the investments markets is a bit like watching a car crash (you can’t look away)… but in these troubled times, it is important to think about and strategies for members within a SMSF. In particular, one strategy allows for a member receiving a pension to capitalise on the current down … Continue reading »
I am pleased to announce the next SMSF Academy InPractice webinar on “Using an anti-detriment strategy effectively within a SMSF”. This one (1) hour webinar will work through: How the anti-detriment tax saving amount is calculated, including discussing the ATO’s recent view’s on this matter; Why it’s now very important to consider claiming an anti-detriment payment … Continue reading »
The use of anti-detriment within SMSFs as a strategy has been stymied over the past couple of years since the Australian Taxation Office (ATO) indicated that any allocation from a reserve for the purposes of paying this tax saving amount was to be counted as a concessional contribution. Subject to the amount of the allocation, … Continue reading »