Preservation Rules – what you need to know!

Preservation Rules – what you need to know!

When accessing superannuation benefits, one of the key matters to verify is the preservation status of members’ benefits. Generally, member benefits are preserved, especially for those who aged under 65 years with their accounts are still in accumulation or...
Marriage breakdown and transfer of assets

Marriage breakdown and transfer of assets

A superannuation fund is prohibited from purchasing assets from a related party except under certain circumstances. However, section 66 (2B) (b) (i) provides an exemption which allows a trustee to acquire assets from a related party in the event of a divorce or...

Over 65s and work test requirements

When a member turns 65 years old, they can withdraw their benefits from their SMSF without any restrictions. However, on the flip side, in order to make contributions to the SMSF, members need to meet their eligibility requirements as per Regulation 7.04 of the...

Can your SMSF sell property assets to a related party?

Self-managed superannuation funds (SMSFs) over the past few years have become the retirement vehicle of choice due to the flexibility that trustees have over investments and effective low tax rates. SMSFs are also an effective tool for estate planning, as it allows...

Changes in preservation age – what does it all mean?

One of the key important concepts in superannuation law is preservation age. This is the age at which fund’s members can access their superannuation benefits. Reaching preservation age will allow you to convert some or all of your accumulated superannuation benefits...