My client made a $25,000 concessional contribution to his SMSF in June which won’t be allocated to his member account until July.
When will the unallocated amount first count towards his Total Superannuation Balance? ...
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New and interesting scenarios where an actuarial certificate is required for ECPI
From 1 July 2017 some funds providing retirement phase pensions are no longer allowed to be...
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My client’s SMSF has a reserve account and the trustee made an allocation from it on 1 July 2017 to a pension account.
Given such action is now contrary to the ATO’s new position expressed in SMSF Regulator’s Bulletin...
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Adding back LRBA balance to Total Super Balance
In the lead up to 30 June 2017 you may recall the Government announcing that they intended to amend...
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Pension planning for 30 June 2018
Winter has arrived and that means it is time to get all our pre-30 June planning finalised.
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My client’s husband died in March 2018. On his death, his account based pension automatically reverted to her. When will the value of this pension count towards her Total Superannuation Balance?
Your client became the “owner” of the pension on the day of her husband’s passing. This means the...
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My client’s wife died in August 2017. On her death, her acc based pension automatically reverted to him. When do I need to complete a TBAR to report the reversion of the pension and what do I show?
The TBAR system revolves around the reporting of “events”, hence the name “events-based reporting”.
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Could children in the fund help beat the ALP proposal to remove franking credit refunds?
As the Bank Inquiry dominated news headlines in recent days the government announced a change that...
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What is “deemed segregation” when it’s at home?
With some new rules for actuarial certificates coming in from 1 July 2017, the term "deemed...
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My client is currently in receipt of a transition to retirement income stream (TRIS). He will turn 65 next month. Does his TRIS automatically become an account based pension on his 65th birthday?
And is the minimum pension for the current year recalculated on his 65th birthday? ...
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SMSFs and reserves - new guidance from the ATO
The ATO has recently issued its first guidance on reserves in SMSFs via a brand new series of...
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Does the minimum pension need to be paid in the year the pensioner dies?
It depends on whether the pension reverted (continued automatically) to a reversionary beneficiary...
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