News & Insights | Heffron | Ask an Expert (3)

Audit Management Letters

Sep 8, 2022, 8:28:32 PM

My client has received a management letter from the auditor of their SMSF. Should they be worried? All SMSF trustees are ...

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Is this a permitted SMSF investment?

Aug 18, 2022, 3:30:00 PM

My client’s SMSF owns residential property in a beachside location. The property is available for short-term rentals. Is the ...

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Valuing assets to market in SMSFs

Jul 29, 2022, 9:14:15 AM

My client doesn't understand why the assets in his SMSF need to be valued to market every 30 June and is refusing to obtain ...

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How is a non reversionary pension dealt with on death?

Jun 2, 2022, 12:31:00 PM

When a pensioner dies, the situation is clear if the pension was reversionary – the pension just continues on seamlessly to the ...

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In-house assets and 30 June

May 18, 2022, 12:00:00 AM

My client’s SMSF lent money to a related entity last October. The value of the loan was less than 5% of the fund’s assets at ...

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LRBA terms and conditions

May 5, 2022, 12:30:00 AM

My client’s SMSF is intending to enter into an LRBA by borrowing from a related party. How do they decide on the terms and ...

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What happens when a market linked pension ends?

Apr 19, 2022, 12:00:00 AM

Market linked pensions are quite different to normal account-based pensions in that they are paid for a specific number of ...

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Can a child receive a Government co-contribution?

Mar 17, 2022, 12:00:00 AM

Retirement might be a long way off, but can a child qualify for a Government co-contribution if they want to kick-start their ...

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Can a child claim a tax deduction for a personal super contribution?

Feb 17, 2022, 12:00:00 AM

Personal deductible super contributions by someone less than 18 are not a common occurrence. But there may be circumstances ...

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Lump sum payments from death benefit pensions

Dec 16, 2021, 12:00:00 AM

My client, who is under age 60, would like to take a lump sum payment from a death benefit pension. Are they allowed and if so, ...

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Can your client retire despite receiving income protection benefits?

Nov 18, 2021, 12:00:00 AM

Being regarded as “retired” for superannuation purposes has some very important benefits. Not only will an individual be able ...

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COVID-19 relief extension announced

Oct 27, 2021, 12:00:00 AM

The announcement by the ATO to extend COVID-19 relief to SMSF trustees due to the financial impact of COVID-19 has been a ...

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