15 Nov 2022
As at the end of June 2022 ATO statistics show over 41% of all SMSF members were aged 65 or older and may be considering their eligibility for Age Pension. Age Pension age has been steadily increasing over the past five years from 65 as we head towards an Age Pension age of 67 from 1 July 2023.
26 Oct 2022
The new Labor Federal Government handed down its first budget last night. As expected, there was a focus on measures to deal with inflation and the cost of living. The upcoming 1 July 2024 legislated personal income tax cuts have been left alone (for now) and there was an array of savings announced. Whilst there was speculation on changes to superannuation, including a potential $5m cap on the amount a person can have inside superannuation, there were no new superannuation measures announced.
17 Oct 2022
Non-lapsing BDBNs ... there is no debate. Our Head of Education Mark Ellem was joined by Matthew Burgess who presented a technical webinar to help attendees assess how their SMSF death benefit nomination stacks up.
4 Oct 2022
On 20 September 2022 the maximum Age Pension entitlement increased to $1026.50 a fortnight for singles and $1547.60 per couple ($773.80 for each member). The rates are indexed on 20 March and 20 September each year to maintain their value against increases in the cost of living.
21 Sep 2022
From an SMSF perspective, the new SIS regulations will allow a member to commute their market linked income stream (MLIS) (also known as a ‘term allocated pension’) to the extent of an excess transfer balance account amount included in a commutation authority. However, this new measure will only apply to an MLIS commenced on or after 1 July 2017.
26 Aug 2022
To assist practitioners with understanding the new rules and the practical implementation of the ECPI choice for SMSF clients Accurium recently collaborated on three webinars with leading SMSF administration platforms: BGL, Class and SuperMate.
25 Aug 2022
Following the announcement by the ATO of a new streamlined transfer balance account reporting regime that will apply to all SMSFs from 1 July 2023, they have now clarified how the transition to the new reporting regime will apply to those SMSFs that are annual TBA reporters.
8 Jul 2022
Given only a partial CGT exemption is required, there will be scenarios where an individual will qualify for making a contribution under the downsizer measure even though the property they have sold is not the home that they were actually living in at the time.
7 Jun 2022
"Whilst the retirement income covenant does not apply to SMSF trustees, it does provide an opportunity for advisers to showcase the value of their advice to the large group of superannuants. Financial advice offers something that the strategies offered by super funds will not…….personalisation."

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