Pension transfer cap to increase

Pension transfer cap to increase

From 1 July 2021, the general pension transfer balance cap will increase from $1.6m to $1.7m due to indexation. “Indexation is a technique to adjust income payments by means of a price index, in order to maintain the purchasing power of the public after...
Areas of concern for SMSF trustees

Areas of concern for SMSF trustees

If you are the trustee of one of the approximately 577,000 SMSFs in Australia at the moment, there are some areas the ATO wants you to pay particular attention to including the sole-purpose test, the in-house asset rules, unlawful schemes and arrangements, and...
Downsize to boost your super

Downsize to boost your super

From 1 July 2018, people aged 65 or over will be able to make additional non-concessional contributions of up to $300,000 from downsizing their home subject to certain conditions. This is in addition to the concessional and non-concessional contribution caps. However,...
Beware of the Superannuation Death Trap

Beware of the Superannuation Death Trap

It is said there are only two things certain in life. Death and Taxes! What happens when they occur at the same time? Death of a loved one is not only a tumultuous time for the deceased family and friends but when the deceased is a member of a self-managed...