Articles

Filter

Topic

Ethics

Retirement

SMSF/superannuation

Tax

Sort: Date Added (new to old)

Published (new to old) Published (old to new)

No matching articles were found. Please update your search criteria and try again.

Defined benefit & market-linked pensions

Dealing with legacy pensions – do you have time to wait for the 2-year exit measure?

Published 13 Jan 2022

The number of SMSFs with a member being paid an old legacy pensions continues to fall and with the budget announcement of a two period for SMSF members with these old pension to exit, there may not be many, if any, left in five years....

Death benefits & Estate planning

No rollover options for SMSF defined benefit members

Published 7 Dec 2021

For those SMSFs that have a member with a legacy complying defined benefit pension, a wind up of the SMSF will require them to rollover their pension to either an APRA regulated fund that provides a complying pension or to an institution that provides a retail annuity....

Age Pension & Aged Care

Frequently asked questions about providing aged care advice

Published 7 Dec 2021

The need for aged care advice is increasing with Australia's ageing population providing more opportunities for professionals to expand their service offer into this market. The aged care system is complex and subject to regular review and reform making aged care advice more important to ensure the right outcomes are...

Age Pension & Aged Care

How much are the Centrelink concession cards worth?

Published 4 Nov 2021

One benefit of receiving the Age Pension is the Pensioner Concession Card (PCC). But how much value can the PCC provide your client? ...

Age Pension & Aged Care

Children paying their parent’s RAD – issues and considerations

Published 3 Nov 2021

From time to time, the Challenger Tech team come across situations where most of the client’s wealth is tied up in the family home, and in some cases, clients express a wish to retain the home. Where the RAD is mostly unpaid, it can place significant pressure on cash flow. Through a...

Retirement strategies

Preservation age is increasing, again: do you know what age your clients can access their superannuation?

Published 29 Oct 2021

Preservation age is increasing, again: do you know what age your clients can access their superannuation?...

Accumulation & contributions

SMSF residency and upcoming changes

Published 1 Oct 2021

This article will look at the current fund residency rules, the consequences of failing those rules and currently proposed changes to relax the residency requirements. ...

Age Pension & Aged Care

Protected person – key to help retain the principal home exemption

Published 1 Oct 2021

The principal home exemption for clients entering a residential aged care facility can make a considerable difference in their aged care fees. In some cases, the availability of the home exemption on the date of entry could even determine whether the client is a low means resident or an accommodation...

Retirement strategies

Guide to the Commonwealth Seniors Health Card

Published 28 Sep 2021

The Commonwealth Seniors Health Card (CSHC) provides self-funded retirees with discounted health costs and various concessions from Australian, state and territory governments. To qualify for the CSHC, a person needs to meet certain age, residency and income requirements. In this article, we look at the benefits available for CSHC holders...

Age Pension & Aged Care

Aged care questions you have asked in 2021

Published 28 Sep 2021

Aged care can be a complex and an intricate area of advice. Although detailed laws have been laid out, certain types of scenarios require a practical understanding of how these laws are applied....

Accumulation & contributions

Are you making a mistake when commencing a pension with specific contributions?

Published 21 Sep 2021

Commencing a pension is one of the most important tasks to running a self-managed super fund (SMSF). An SMSF with a correctly established pension interest may be eligible to claim tax exempt income, a significant tax concession to the fund. However, there are some common mistakes trustees make when commencing...

Accumulation & contributions

Boosting retirement savings through a personal deductible contribution strategy

Published 15 Sep 2021

A tax effective strategy of contributing to superannuation is to make a personal contribution, which is claimed as an income tax deduction. When doing this it is important to ensure that the contributions are indeed deductible so that the full benefits of the strategy can be realised....

Transfer balance cap

Are you entitled to increase your transfer balance cap from 1 July 2021

Published 25 Aug 2021

The general transfer balance cap increases by $100,000 to $1.7m on 1 July 2021. However, not everyone will be entitled to an increase to their personal transfer balance cap (TBC). You can use the following flow chart to determine if a person is entitled to an increase to their transfer...

Age Pension & Aged Care

Insights on aged care advice from aged care experts

Published 23 Aug 2021

In this article, we have the pleasure of gaining insights from three experienced aged care advice professionals from different areas in the country who provide their thoughts on aged care advice....

Age Pension & Aged Care

Age Pension advice considerations – Inheritance

Published 23 Aug 2021

For many clients, the receipt of an inheritance brings with it both financial and emotional considerations. The receipt of an inheritance could improve a client’s financial position, allowing for the reduction of debt or increased savings and investments. For Age Pension recipients there are additional advice considerations following the receipt...

Accumulation & contributions

The new funds and data flow regime

Published 13 Aug 2021

SuperStream is not a new concept for self managed superannuation funds (SMSFs), however, from 1 October 2021 it will be mandatory for SMSFs to use SuperStream in relation to transfers in and out of the fund. ...