Aug 27, 2024
Despite the Federal Government claiming changes to superannuation will make the system ‘more sustainable and fairer’, closer examination of the draft legislation reveals the measures are actually inequitable and unsustainable in the long term. At a simple level, plans...
Jun 22, 2016
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...
May 20, 2016
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...
Oct 28, 2015
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...
Jun 15, 2015
Members receiving a TRIS are able to access some superannuation benefits, without having to retire or leave their job, subject to 10% maximum withdrawals cap. As a non-commutable income stream, there are certain restrictions on the circumstances in which the TRIS can...
Sep 24, 2014
Understanding and maintaining tax components of a member superannuation account is important as it will determine the quantum of tax payable when benefits are paid out. Tax-free and taxable components The tax-free and taxable components can change over time and are...