SuperGuide
Superannuation and retirement planning information
Are you making the most of having an SMSF? In this webinar we will cover strategies only available to SMSFs, including access to certain investments, effective tax and estate planning, as well as the benefits of investing as a couple or family.
Q: If I start a Pension in my SMSF after 1 July 2023 with a Transfer Balance Cap (TBC) at $1.9 million and Transfer Balance Account (TBA) at $1.9 million (but do not take a Pension payment until after 1 June 2024,) does it means that I do not have to use any of my 4% minimum pension drawdown for the 2023-24 year? If that is the case, does my total balance account increases by the earnings allocated to my Pension Account as at 1 July 2024? If the above is correct, how does this affect my tax-free status of earning in Pension Account for the 2023-24 year? I am assuming the tax free status remains in place?
In this article in our SMSF and Estate Planning series, we focus on key issues within your fund.
Forewarned is forearmed, as they say, so why not download our 2024 SMSF calendar to ensure you don’t miss any crucial dates, deadlines or opportunities in the year ahead.
In this webinar super expert Garth McNally will answer recent questions from SuperGuide members.
The third article in our SMSF and Estate Planning series focuses on estate planning issues trustees need to consider on the death of a fund member.
The aged care system is notoriously complex. This webinar will outline the aged care landscape including how to access help in the home or get into residential aged care and the costs involved.
Q: My wife and I are both over 70 and are the only members of our SMSF. On 30 June, my wife had a nil balance in our SMSF but will make a $300,000 non-concessional contribution in July and commence an account-based pension at the 5% rate. Does her nil balance in the previous financial year predetermine the amount of pension she is permitted to take, from an ATO perspective?
Q: I am about to retire but my partner is still working. There is one property, some shares and cash in the SMSF. My partner and I have 50% share each. Moving to retirement, can I transfer all cash to my share of the fund into retirement phase? The value of cash is 25% of total fund.
When we’re looking at joint ownership of property, there are a few things that we need to consider. There are really two quite distinct ways that direct property interest can be held when there’s multiple owners.
If you are considering taking more than the minimum amount from your super pension account, the way you do it counts.
Q: Assuming a member turns 59 on the 9th of May 2023, and sets up a full pension fund to commence from 1 July this year (2023) shortly, when that member withdraws the lump sum before the 9th of May 2024 (next year), aged then 60, is the lump sum subject to tax or not?
Q: Can a recontribution strategy work where an SMSF has 2 members aged 70 and 68 with current member balances of $1.7 million each and transfer balance caps of $1.6 million each?
The second article in our four-part “SMSF and estate planning series” covers the key issues for trustees when it comes to estate planning within their self-managed fund.
The ability to borrow to invest gives SMSF trustees additional flexibility when choosing investment assets, but it’s not open slather. Strict rules apply.
In this webinar, Garth will take you through the key benefits of using a transition to retirement pension; from tax planning to achieving better estate planning outcomes. This webinar is a must for all readers approaching or considering retirement.
Q: The bring forward concessional contributions tax claims. Are they still available and any other matters associated with such a tax claim?
Ensuring your super is dealt with according to your wishes when you die is not only important for your beneficiaries, but for your fellow trustees and the fund itself.
