Unless all members of an SMSF or SAF are of the same age and have the same retirement goals, the new super rules look like complicating tax payments when one member is in pension and the other accumulation.
Tag Archives | superannuation assets
SMSFs transferring funds to a tax-free pension account under the proposed cap of $1.6 million will not need to sell or segregate assets from an accumulation account for the same member.
If your SMSF has invested in personal assets like vintage cars or valuable artworks, new restrictions come into effect on 1 July 2016. You may need to find another way to pay for your passion.
Nobel laureate Robert Merton wants us to focus on the income that will sustain us in retirement, even Jane Austen understood this. And he has a surprising proposal to help with longevity risk.
Average superannuation balances are increasing with each generation as more of a person’s working life is covered by compulsory saving. It won’t be long before super is the dominant source of wealth.
Contrary to popular belief, superannuation assets do not automatically form part of a person’s estate pursuant to a will. If you want your super to be distributed as part of your estate, you’ll need a binding death nomination.
Here’s the full Media Release of today’s changes to superannuation, including capping the tax-free earnings from assets supporting a pension at $100,000 a year. The reforms will affect individuals with more than $2 million in super assets, or about 16,000 people in 2014-15. A concessional tax rate of 15 per cent will apply to earnings above $100,000.
If ‘SMSF’ were a corporate brand, its marketing department would be the most successful in superannuation history. The major retail funds always had a strong response to SMSFs in their kit bag, but they didn’t explain it to enough customers.