17 Jun 2021
With the release of draft legislation by Treasury on 21 May 2021 for the previous Budget proposal to provide choice to superannuation trustees when determining the fund’s claim for exempt current pension income (ECPI) and to remove a redundant requirement to obtain an actuarial certificate when claiming ECPI for certain funds, it’s time to take a closer look at the implications of the proposed measures, both from a technical and practical application perspective.
31 May 2021
As the current 2020–21 financial year draws to a close, it's time for a quick fire health check to make sure your client's SMSF finishes the year with no compliance issues or missed opportunities.
26 Apr 2021
Changes to how exempt current pension income (ECPI) is determined announced in the 2019-20 Federal Budget are due to come into force from 1 July 2021. While draft legislation is yet to be released, the proposals suggest SMSF trustees will be given a choice over whether to use the proportionate method or segregated method when claiming ECPI for funds that are solely in retirement phase for a period in an income year.
21 Feb 2021
The Federal Government has proposed changes to the approach to claiming exempt current pension income (ECPI). Whilst these proposed changes are to commence from 1 July 2021, we are yet to see any draft legislation.
26 Jan 2021
The transfer balance cap (TBC) was introduced as part of the 2017 super reforms to limit the amount a person could transfer to a retirement phase pension, for example an account-based pension. The transfer balance cap started at $1.6m, however, legislation allows for the indexation of the cap in $100,000 increments in line with the All Groups consumer price index (CPI).
17 Dec 2020
The Federal Government released today its Mid-Year Economic and Fiscal Outlook (MYEFO), noting that the delayed 2020 Federal Budget was only released on 6 October 2020. There was an interesting proposed change to enable the partial commutation of certain non-commutable pensions included in the MYEFO papers.
14 Dec 2020
A question that is often asked is “Can I make a contribution to my super fund?”. This is the wrong question to ask. In fact, there are two questions that should be asked in relation to a superannuation contributions.
24 Nov 2020
For several years, breaching the in-house asset rules and the prohibition on lending to a fund member or a relative of a fund member or providing financial assistance to a fund member or their relative using the financial resources of the fund, have consistently been in the top three audit contraventions.
12 Oct 2020
The ATO has updated its guidance for when a dependent beneficiary rolls over a death benefit to another superannuation fund. Clarification has been provided that there is no requirement to include an element untaxed on the Death Benefit Rollover Benefit Statement (RBS).
7 Sep 2020
On 1 September the ATO released their awaited guidance on the transfer balance cap (TBC) assessment of commuted market linked and life expectancy (term) pensions.
19 Aug 2020
The Actuaries Institute Retirement Incomes Working Group has published a research note which looks at the importance of accurate calculations of life expectancies in retirement planning. Our very own Technical Services Manager, Melanie Dunn, assisted with this research and is passionate about helping retirees and advisers understand their longevity risk.
1 Jul 2020
SMSFs paying legacy defined benefit pensions require an actuarial valuation each year to ensure they remain solvent. Upcoming solvency tests will be based on asset values as at 30 June 2020. Despite a partial recovery in equity markets since the lows of March, prices have been impacted across almost all asset classes.

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