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Ask an Expert | Contribution

My client has excess concessional contributions and their Total Super Balance exceeds $1.6m. What happens now?

Apr 29, 2019, 12:00:00 AM 3 min read
While the rules surrounding excess contributions have remained relatively stable for some time now, the 1 July 2017 changes to ...
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Ask an Expert | Pension | Actuarial Certificates

100% pension fund with contributions - do I need an actuarial certificate?

Feb 27, 2019, 12:00:00 AM 2 min read
In the new world of calculating exempt current pension income, if your 100% pension fund receives a contribution, and a new ...
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Ask an Expert | Pension

Why do pension payments now need to be paid in cash? I’m sure my clients used to be able to take in-specie pension payments.

Feb 7, 2019, 12:00:00 AM 2 min read
Well, in fact pension payments have always needed to be paid in cash. Only lump sums can be taken in-specie (ie in the form of ...
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Ask an Expert | Contribution

My client has been offered shares in his employer’s company as part of an employee share scheme

Nov 28, 2018, 12:00:00 AM 2 min read
Under the scheme, the employee is able to take up the entitlement themselves or nominate an associate to take up the share ...
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Ask an Expert | Tax

If my client receives a lump sum from superannuation, will the lump sum be included in their “income” for Division 293 purposes?

Oct 29, 2018, 12:00:00 AM 2 min read
Potentially, but this will depend on why your client is receiving the lump sum, their age, the amount paid and the components ...
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Ask an Expert | Contribution

My client made a $25,000 concessional contribution to his SMSF in June which won’t be allocated to his member account until July.

Jul 20, 2018, 12:00:00 AM 2 min read
When will the unallocated amount first count towards his Total Superannuation Balance? Your client has undertaken an ...
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Ask an Expert

My client’s SMSF has a reserve account and the trustee made an allocation from it on 1 July 2017 to a pension account.

Jun 12, 2018, 12:00:00 AM 1 min read
Given such action is now contrary to the ATO’s new position expressed in SMSF Regulator’s Bulletin 2018/1, is the ATO likely to ...
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Ask an Expert | Death | Pension

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?

May 17, 2018, 12:00:00 AM 1 min read
Your client became the “owner” of the pension on the day of her husband’s passing. This means the value of the pension counts ...
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Ask an Expert | Death | Transfer Balance Cap

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?

May 17, 2018, 12:00:00 AM 1 min read
The TBAR system revolves around the reporting of “events”, hence the name “events-based reporting”. The reversion of the ...
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Ask an Expert | Pension | Retirement

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?

Apr 20, 2018, 12:00:00 AM 1 min read
And is the minimum pension for the current year recalculated on his 65th birthday? Whilst a TRIS automatically becomes a ...
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