SuperGuide

Superannuation and retirement planning information

January 2025 SMSF newsletter

2024 year in review, 2025 year in preview
For the second year running, investors had a surprisingly good year in 2024 thanks to moderating inflation, economic growth holding its head above water, falling interest rates (just not in… Read more.
2024 year in review, 2025 year in preview
For the second year running, investors had a surprisingly good year in 2024 thanks to moderating inflation, economic growth holding its head above water, falling interest rates (just not in… Read more.
5 new year’s resolutions for your SMSF
After another wild year on investment markets, the summer break is a good time to review your SMSF and resolve to make it fit for whatever 2025 may bring. Read more.
5 new year’s resolutions for your SMSF
After another wild year on investment markets, the summer break is a good time to review your SMSF and resolve to make it fit for whatever 2025 may bring. Read more.
Where are we now? Pending and recent superannuation changes
While some super reforms are on the way, other proposed changes may struggle to get across the line before the upcoming federal election. Read more.
Where are we now? Pending and recent superannuation changes
While some super reforms are on the way, other proposed changes may struggle to get across the line before the upcoming federal election. Read more.
SMSFs and insurance: Rules and considerations
Even if you have life insurance outside super or in a pre-existing fund, SMSF trustees are still required to consider their insurance strategy. Read more.
SMSFs and insurance: Rules and considerations
Even if you have life insurance outside super or in a pre-existing fund, SMSF trustees are still required to consider their insurance strategy. Read more.
Currency hedging for SMSFs
You may think currency hedging is too esoteric to worry about, but it can make a significant difference to your returns from global investments. Read more.
Currency hedging for SMSFs
You may think currency hedging is too esoteric to worry about, but it can make a significant difference to your returns from global investments. Read more.

Super strategies for 2025

Thursday 23 January 2025 at 4:30 pm AEDT

In this webinar we will explore and explain some of the more beneficial superannuation strategies that you should be considering in the next 12 months. We will cover super strategies for members of all types of superannuation funds, including industry funds, retail funds and SMSFs.

IN CASE YOU MISSED IT: Watch our previous webinar, SuperGuide members Q&A: December 2024.

Q: Can a property held within an SMSF be transferred from the accumulation phase to the income stream phase if there is also sufficient cash in the income account to pay the minimum draw-down in the case of the rental return from the property not being enough to do so by itself?

For example: Property valued at $1,200,000 plus $300,000 cash = $1.5m in income stream phase.

Mandatory 4% draw-down is $60,000.

The property only returns lease income of $35,000/year therefore the balance of the draw-down would come from the cash in the account.

Can property be held within an income stream account?

A: Yes, the scenario you pose is possible.

It is the responsibility of the trustees of the SMSF to ensure that sufficient liquid assets are always available supporting retirement/pension phase interests to cover minimum pension payments and the other liquidity needs of members. Which particular asset that liquidity arises from is not governed by law or regulation but is up to the trustees.

Our SMSF specialist Garth McNally answered a similar question in a recent webinar. You can read or watch his response here.

January 14

Auditor appointment: If you lodge your annual tax returns yourself, you need to appoint an auditor 45 days prior to the lodgement due date of 28 February, which is 14 January.

If your fund has just started paying a pension, and there are members still in accumulation phase in the fund, you will also need an actuarial certificate with your annual return. A good time to start organising this certificate, to ensure it’s ready with your annual return, is at the same time you appoint your auditor.

Your fund will continue to need an actuarial certificate each year you have members in both retirement and accumulation phase if you are using the proportionate method to calculate exempt current pension income (ECPI) for tax purposes. As earnings on pension assets are tax free, ECPI is the proportion of the SMSF’s income that is tax free.

The ATO also provides further information on ECPI here.

January 28

Transfer balance account reporting: Where any transfer balance event occurred between 1 October 2024 and 31 December 2024, you are required to report these events by lodging a transfer balance account report (TBAR) by this date.

These events include the start of a retirement phase income stream, ending a retirement phase income stream (reverting part or all of the pension to accumulation phase), or where a lump sum has been accessed from retirement phase.

Other events may be relevant for other members.

Super guarantee: SMSF trustees should have received all relevant super guarantee contributions for the period 1 October 2024 to 31 December 2024 for eligible fund members by this date.

January 31

Trustee meetings and minutes: If you’ve only had one trustee meeting this financial year, now is a good time to have another and to get into the practice of having at least six-monthly documented reviews of your SMSF.

It’s time to take stock of how the fund is performing and review your investment strategy. Also, consider reviewing the insurance needs of members. They may have experienced life events that could prompt a reconsideration of their life and TPD insurance in the SMSF.

If you didn’t do it earlier in the financial year, review your trust deed. It’s something that could do with at least an annual once-over as well. There may have been changes in legislation that could affect your deed.

Or maybe you are looking at making a new type of investment that will require your trust deed to be updated. Are you considering purchasing a property in your SMSF at some point, for example, and does your trust deed permit this? And if you are considering cryptocurrency you may need to update your trust deed and your investment strategy.

Also, if a member is about to start a retirement phase pension your trust deed needs to allow the payment of the requested type of income stream.

Important: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.

Superguide Pty Ltd ATF Superguide Unit Trust as a Corporate Authorised Representative (CAR) is a Corporate Authorised Representative of Independent Financial Advisers Australia, AFSL 464629.