Four tweaks to your DIY fund will make things easier not just for you but for your loved ones too.

Partially commuting a pension can be a very useful strategy for SMSF trustees, but there’s plenty to consider first.

I recently talked to a client about taking a large benefit from their SMSF. Believe it or not, there’s a lot to consider in working out how to structure the payment. Just taking a very large pension amount is often the worst possible thing to do.

Thinking of stopping your income stream or combining it with another? Don’t do either without reading this.

It’s not just about setting up an income stream but also making sure you’ve taken care of tax, splitting super with a spouse, and what happens after you die.

SuperStream is an electronic data exchange currently used by some funds to receive data about contributions & rollovers from other funds. Changes to the rules commencing on 1 October may mean more SMSFs need to become familiar with the concept.

Six-member DIY super funds can offer a smoother transition as parents age, rather than having to decide a cut-off point.

Don’t be surprised at the increased attention to asset values – far better to have the argument inhouse than wait for the ATO to come knocking.

No one is going to disagree – good record keeping is essential for any SMSF. But as the years click over and more work is undertaken online, it begs the question – do we still need to keep all those 'old records'?

It is almost always beneficial to take the refund option – some people will need it to pay the extra tax bill.

The concessional contributions cap increases from $25,000 to $27,500 from 1 July 2021 – a good thing for anyone wanting to add to their super. But there’s another change just passed by Parliament relating to the consequences of exceeding the cap.

The process can be relatively simple as it largely involves paperwork. It doesn’t require assets to be sold or moved to a new super fund but it does create some traps.