Segregated Capital Gains Tax Relief

Segregated Capital Gains Tax Relief

From 1 July 2017, SMSF members are limited to having $1.6 million (i.e. Transfer Balance Cap for 2016/2017) in their retirement pension account (i.e. Account Based Pensions (ABP)) where ordinary and statutory income (investment income) derived from assets supporting...

Claiming foreign income tax offset

The speculation over Australian economic downturn and rising unemployment has motivated trustees to invest overseas. When an SMSF pays foreign tax on foreign income, foreign tax credits can be claimed on that income according to Section 770.75 of the Income Tax...

Paying lump sum benefits from an SMSF

A Lump Sum Benefit Withdrawal is simply a payment from a SMSF in a lump sum, as opposed to a withdrawal paid out over a period of time, like a pension. The decision of whether to take a lump sum or a pension from your SMSF benefits is mainly an issue of what your...

How does work test operate?

Again this is one of the other most common questions. It is crucial to get these requirements correct, as very often, trustees may find themselves in an unfavourable position and could also result in excess contribution tax. We have summarised the requirements below...

When is an actuarial certificate required?

This is one of the most common questions we get asked and seemed like an excellent topic for our first blog. We present you with simple follow chart that should assist you with your decision. Kindly note:  Funds with a defined benefit pension require an adequacy...