Late last week the November 2020 Average Weekly Earnings data was released which means we now know for sure that the concessional contributions cap will increase from $25,000 to $27,500 from 1 July 2021.

I’m an SMSF professional with a number of SMSF clients. There’s been so much noise around NALE issues lately that I’ve lost touch with what I need to be addressing right now and what is still awaiting clarification from the ATO. Please remind me.

Are you like me and tired of the rhetoric from the big end of the superannuation town that always portrays SMSFs as slightly dodgy, overpriced fashion accessories that people with too much time and money like to have?

The general TBC will increase to $1.7m from 1 July 2021. The quirky method for translating that to individual clients will create plenty of confusion. It is fertile ground if the government really is keen to simplify laws and remove red tape.

The key takeout of the recent "Costs of operating SMSFs 2020" report, was something that many of us have known for a long time – that SMSFs of more than $500,000 were generally cheaper to run than APRA regulated funds.

For those SMSF members heading towards a divorce, there are far-reaching consequences and the process of dividing super can be complex, with conflicts that must be carefully managed.

Independence is certainly a hot topic these days – right now, the conversation is specifically for auditors. But it’s also been a big area of discussion for advisers in the past.

Today is a pretty important day in the Heffron world – it marks 20 years since one of our most influential staff members joined us, Leigh Mansell.

In the last days of Parliament, there were super related measures still to be passed into law and others still in the pipeline. They have now retired for the year and the ATO is shutting down for the year, so what is the status of these measures?

We’re still waiting. These are the rules that would allow a non-concessional bring forward to commence any time up to the end of the year in which the member turns 67 (rather than 65).

On occasion, an SMSF will change the makeup of their trustee. Perhaps a fund with individual trustees wants to take advantage of the benefits of a corporate trustee, or the change might be needed due to death, incapacity or other circumstances.

Meg explains how our passion to make our knowledge more accessible drove the creation of the Toolkit and Companion.