May 20, 2016
For SMSFs that are in pension phase, ATO ID 2012/47 outlines that all rollovers and contributions made (regardless of the taxable or non-taxable nature of these amounts) are to be include as assessable income for the purpose of determining the available deductions for...
Mar 24, 2016
If you are 75 years or older, the super fund cannot accept any voluntary (concessional and non-concessional) contributions from you apart from mandated (super guarantee) employer contributions which can be contributed at any time regardless of age. However, the SIS...
Feb 29, 2016
Due to the complex nature of the LRBA arrangement, there are some deliberations in regard to the costs of setting up a LRBA in the SMSF and whether they are deductible to the SMSF. The ATO has issued a private binding ruling (PBR 1012441308161) that considered this...
Nov 30, 2015
Section 17A of the SIS legislation sets out the conditions that a fund must satisfy in order to be a SMSF. One important requirement is that each member of an SMSF must also be a trustee of the fund or a director of the corporate trustee. Except in the case of single...
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...
Sep 25, 2015
Having a pre-99 unit trust within a self-managed superannuation fund in the past was particularly useful to circumvent the borrowing rules and other limitations applied to the superannuation fund. Although there was a lot of speculation about closing pre-99 unit...
