Jul 23, 2015
In the 2014 Federal Budget, the Federal Government announced that from 1 January 2015, the superannuation income stream will be taken into account in determining whether you are eligible to receive the Age Pension or the Commonwealth Seniors Health Card (CSHC). If the...
Jun 15, 2015
Before an Australian superannuation fund can accept a transfer from a foreign superannuation fund, the following requirements must be met:
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...
Dec 3, 2014
When a Self-Managed Super Fund (SMSF) lends money to members or their related parties, the loan constitutes as an in-house asset of the fund. However, it is not necessary that the fund has contravened Section 65 of the SIS legislation. The Australian Taxation Office...
Oct 31, 2014
What are the implications? A Self Managed Super Fund (SMSF) may become a ‘non-complying’ fund if it fails either the “residency test”, which means the fund is not a resident of Australia or the “compliance test”, when the fund has been issued with a Notice...
Sep 24, 2014
In February 2014, the Australian Taxation Office published a FAQ to clarify the minimum pension payment requirements. Below will explain these requirements at a glance. What if fund fails to meet minimum pension? Fund cannot claim exempt current pension income...
