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SMSFs

This Month

Now is a good time to consider the methodology for calculating your fund’s exempt current pension income (ECPI).

SMSFs that do this check each year could end up paying less tax

To get optimal results, choose carefully which method your SMSF uses to calculate tax-free pension amounts.

  • Colin Lewis
Perpetual Chairman Tony D’Aloisio with Perpetual CEO Bernard Reilly prior to the Perpetual AGM.

Nine private wealth advisers defect from Perpetual

Street Talk understands nine advisers resigned from the 138-year-old investment group on Friday.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

November

SMSFs cannot lend money to members of the fund or their relatives under any circumstances.

Why SMSFs can never lend money to relatives – ever

An SMSF can lend money to a person or business completely unrelated to members of the fund but all loans must be made on commercial terms.

  • Meg Heffron
The minimum pension amount begins at 4 per cent for retirees aged under 65.

How do I make sense of all the different superannuation caps?

The transfer balance cap is $1.9 million but after you start drawing a pension, there is no limit on investment earnings.

  • John Wasiliev
The SMSF Association says more people could be affected by the proposed $3 million super cap.

Why SMSFs might soon need to load up on cash

Taxing unrealised capital gains on super balances over $3 million will make cash-flow management extremely difficult.

  • Peter Burgess
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If a member of a super fund dies, the death benefit payable on their death can be received tax-free by only their dependants.

Why more retirees might dodge the death tax on super

Forcing people with superannuation balances above $3 million to pay more tax will give rise to a range of new strategies.

  • Michael Hutton
Division 293 tax applies to those who had income together with pre-tax concessional contributions greater than $250,000 in 2023-24.

Be on the lookout for the super surcharge for high earners

If you receive a Division 293 tax assessment from the ATO, you must pay the bill within 21 days to avoid penalties.

  • Colin Lewis
Distressed investors have contacted AFR Weekend after they read our story about Alex and David Didlock.

Hundreds of SMSFs may have been misled into this illiquidity trap

The financial complaints authority says two people who set up SMSFs based on bad advice are owed almost $400,000. Hundreds of others may be in the same boat.

  • John Wasiliev

October

Alex and David Didlock.

This couple put their life savings into an SMSF. They can’t get it out

Alex and David Didlock say they were misled by a financial adviser who promised better returns and maximum liquidity. Now they’re being told they might never see their money again.

  • John Wasiliev
Cracking super, super nest egg, superannuation, super changes. generic super. FIRST USE AFR SMART INVESTOR SATURDAY, JUNE 3, 2021

A big new tax on super is coming but don’t do anything rash – yet

While a government plan to increase tax on super balances above $3 million is anxiety inducing, yanking money out too soon could be a costly mistake.

  • Meg Heffron
Forty-two self managed super funds have more than $100 million in assets and receive more than $140 million per year in tax concessions, sparking calls for the government to put a limit on how much superannuation a person can accumulate.

‘Tax-free to the children’: 42 super accounts worth more than $100m

The mega-SMSFs receive more than $140 million per year in tax breaks, sparking calls for the government to put a limit on superannuation balances.

  • Michael Read
Death benefit payments can be a problem for SMSFs holding large illiquid assets such as property.

How SMSFs can find cash when tragedy strikes

What happens when the sudden death of one spouse threatens to force the sale of property in a self-managed fund?

  • Peter Townsend
Because people aged 67 to 74 are no longer required to meet a work test, they are tipping extra money into superannuation like never before.

Why over 70s are pouring money into super like never before

Removing the work test has allowed more people to take advantage of a strategy that reduces tax on an inherited nest egg.

  • Peter Burgess
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How your kids could help you avoid this super death benefits catch

The transfer balance cap also applies to pensions received on death and this is where it may catch you out.

  • Colin Lewis

September

Adults who inherit their parents super are required to pay tax on some of the money.

How to get your kids more tax-free super when you die

Re-contribution strategies allow you to withdraw money from super and put it back again to minimise tax for whoever inherits it. Such strategies are making a come-back, particularly in SMSFs

  • Meg Heffron
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Use a free online data leak checker to see if your information has been involved in a hack.

SMSFs are a $1 trillion honeypot for hackers

The success of the retirement savings system has become an irresistible target for global cybercriminals.

  • Tim Mackay
One company has come up with a solution for residents in retirement villages who stay longer than the average nine years: just keep charging them.

$1 trillion: Millennials drive SMSF ‘renaissance’

SMSFs are undergoing a renaissance thanks in part to interest from Millennials. But it’s not all good news because many operate without any expert guidance.

  • Peter Burgess

How much tax people will pay under Labor’s super changes

Self-managed superannuation fund members with big balances will face an average tax bill of $50,000 under the government’s plan.

  • Michelle Bowes
Billabong founder Gordon Merchant successfully argued against his disqualification as an SMSF trustee.

Why being disqualified as an SMSF trustee is a big deal

You lose control of your investments and direct ownership of real estate is off the table.

  • Peter Townsend
With a reversionary pension, the beneficiary has peace of mind knowing they’ll continue receiving income into their bank account.

What happens to your super after you die comes down to this choice

Your money can go to your beneficiary either as a regular pension payment or as a lump sum death benefit.

  • Colin Lewis

The Australian Financial Review Magazine

BOSS Financial Review

Macquarie’s Shemara Wikramanayake has topped the AFR’s CEO pay ranks for the fourth year running.

Life & Leisure

Rich List

Jevan Bouzo, CEO of Convenience & Mobility at Viva and Yasser Shahin.