On Friday 5 April 2013 the Minister for Financial Services and Superannuation, the Hon Bill Shorten MP, and the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP, announced the Government’s proposed changes to the superannuation laws. The Government have aimed the changes at creating what they believe will be a more equitable and sustainable retirement income system.
Although prevention is better than cure when it comes to ensuring you take your minimum pension payments each year, the ATO this week has released information in regards the circumstances in which they will overlook a small underpayment in pension payments.
There are a number of regulatory changes that apply from today (7 August 2012) that may impact your SMSF. These changes are in regards to insurance, investment strategies, keeping investments separate and in the correct name and valuation of assets. The following is a simplified explanation of these changes and how they impact you as trustees of your SMSF.
A question we quite often asked by our clients is why they may have more than one pension account. In this article I will explore some of the reasons why having more than one pension account should actually be the norm, rather than the exception for SMSF clients.
Most SMSF trustees know that when they start drawing a pension from their fund everything becomes tax free right? Wrong. Like all things super and tax related it is never that easy. In this article we will review the circumstances where an actuarial certificate is required.
Yesterday the treasury released the Mid-Year Economic and Fiscal Outlook or ‘MYEFO’ and there are a couple of key changes which impact superannuation and SMSFs.
From a SMSF perspective, the announcements were predominantly good news, especially in regards to the taxation consequences for superannuation funds (including SMSFs) when a member of the fund dies.
Interest rates have been cut five times in the last twelve months and while the news headlines seem to be full of joy when rate cuts are announced by the Reserve Bank, investors with secure term deposits are hurting.
In this article I will look at some alternatives for investors seeking an income return from their portfolios.
Anyone who has a SMSF knows they create a huge amount of paperwork each year. After the end of the financial year when the accounts, SMSF tax return and audit are finalised, accountants – including Superfund Partners – will print a large number of reports, minutes and other documents to be signed by the trustees.
If you enjoy running around from bank to bank hunting for the best term deposit rates, filling out a multitude of application forms and completing repetitive 100 point identification checks for your SMSF then stop reading.
However, if you want a solution where you can complete a single application form which gives you access to more than 25 banks,