First published in SMSF Adviser, 7 October 2022 In good news for SMSF retirees, legislation was recently introduced into Parliament[1] to increase the Commonwealth Seniors Health Card (CSHC) income test limits to $90,000 a year for a single person and $144,000 a year for couples. The CSHC is a concession...
Ethics is becoming a dominant topic in the professional advice space for multiple good reasons. Primarily as ethics is the foundation of trust and trust is the key foundation of a profession. We come across many ethical situations in our daily lives. Ethical issues are rarely black or white, and...
During the life cycle of a limited recourse borrowing arrangement (LRBA) held by an SMSF, there will be events that will require consideration of how they will affect superannuation compliance and income tax issues. In this article we consider these events and their consequences. Year end LRBA asset value less...
Brought to you by Challenger Tech Accommodation is usually the largest cost associated with residential aged care, often requiring the sale of assets. A person may have to pay an accommodation contribution or payment when they enter residential aged care depending on their means. In this article the technical team...
The ATO has recently provided an update on their view of whether a payment will be treated as a superannuation member benefit or as a superannuation death benefit where a member dies after they have requested a benefit, but before the actual benefit payment by the superannuation fund¹. Whether a...
