SuperGuide
Superannuation and retirement planning information
Q: If you and your wife are retired and have an SMSF, what happens when one of you dies? Can you keep the money in the SMSF for the other person to still live off if you are the only person on the binding death nomination? Or does it need to get paid out of the SMSF?
A TTR pension not only offers greater work-life balance, but it can also open up potentially beneficial strategies and opportunities.
Q: Nikki asks, I would like to understand what the benefit is for my husband to withdraw funds when he turns 60, and then I reinvest the funds back in my name.
From the compliance requirements to the strategic opportunities, this webinar will also include an attendee Q&A Session.
Don’t know your NALE from your NALI? Failure to attend to both can lead to some gnarly tax outcomes.
It’s a common question which is generally answered with a firm no, but there are exceptions to the rule.
The stars have aligned for the preservation age and tax-free super payments, reigniting interest in TTR pensions.
Q: I am keen to understand how to move one member of an SMSF from accumulation phase to a benefit paying phase, while the remaining members continue in the accumulation phase.
If you are planning to set up your own self-managed super fund with a corporate trustee, then you will need to add applying for a Director ID to your administrative to-do list.
With upcoming changes to both superannuation and tax laws, there is likely to be a huge uptake in the use of transition to retirement pensions.
Q: I have two super funds and being in my 60s and retired believe I’m eligible to change from accumulation to pension. If I do this, does this need to happen for both funds, or can I choose to have one fund with one account in pension/drawdown mode and have the second fund with one account remaining in accumulation mode?
If you want to take advantage of some of the changes to super this financial year, and get your SMSF shipshape for June 30, then get cracking.
In this webinar super expert Garth McNally answers recent questions from SuperGuide members.
Q: I was planning to make a $55,000 payment into my SMSF by 15 June 2024 as a Contribution Reserving Strategy for myself and my wife. With the limits increasing to $30,000 per person from 1 July 2024, can I make a $60,000 payment as Contribution Reserving instead of $55,000. In summary, can I take advantage of the new limits with Contribution Reserving prior to 1 July?
Q: I have $1.9 million in pension. Am I allowed to contribute to my accumulation super accounts? If so, how much can I contribute in terms of concessional contributions and non-concessional contributions? I’m 65 years old and not working now.
Year-end strategies and procedures to get the best outcomes from your superannuation before the end of the 2023-24 financial year.
If you’re unsure how the SMSF rules and regulations might apply to your fund, it’s worth going direct to the horse’s mouth – that is, the ATO.
If you have more than $3 million in super and are looking to reduce your balance and future tax, consider these issues first. Time is slipping away.
