When we use the term “segregation” or refer to an asset as being “segregated” in a superannuation fund, we are generally referring to a tax concept which relates to funds providing retirement phase pensions.

Potentially, but this will depend on why your client is receiving the lump sum, their age, the amount paid and the components of the lump sum.

Prior to 1 July 2017, as a general rule, where an individual was age 60 or over and wanted to draw monies from their pension account in excess of their minimum pension requirements, the excess was simply treated as an additional pension payment.

Must the fund issue a PAYG summary? Does the individual need to report the payments in their personal tax return? Are they still eligible for the untaxed element tax offset?

With some new rules for actuarial certificates coming in from 1 July 2017, the term "deemed segregation" has popped into the SMSF vernacular. What does it actually mean and why is it important?

The ATO has recently issued its first guidance on reserves in SMSFs via a brand new series of publications called "SMSF Regulator's Bulletins".

It is a well established principle that company directors are not considered common law employees, unless they are also engaged under a contract of employment to provide non-director duties.

We are definitely at the business end of 2017/18 when it comes to discovering just where the submerged rocks lie for CGT relief under the 2017 Superannuation Reforms.

With all the recent focus on new limitations on super, it’s easy to forget that there is also at least one new rule that helps those still saving to put more into their super account with the best possible tax treatment.

One of the many benefits traditionally enjoyed by funds entirely in pension phase was that when an asset was sold, any capital gain was completely disregarded. But what does the future look like on this front?

The ATO announcement this morning advising that they will be extending the due date for lodgement of SMSF Annual Returns strongly indicates the complexities around the CGT Relief is proving challenging, as we, at Heffron, predicted would be the case.

Understanding when a fund is "segregated" for tax purposes is critical in applying the tax rules to SMSFs providing pensions.