Author: smsf

When is a Pension Paid

To ensure that the pension standards for self-managed super funds (SMSFs) are met it is important to know the time when the commissioner will consider that a member’s benefit is cashed (that is, ‘paid’). As a general rule, a benefit is cashed when the member receives an amount and the member’s benefits in the SMSF are...

Strategy Matters

SMSF Trustees may outsource many of the more specialist Fund activities but, ultimately, the responsibility for the successful management of the Fund is the Trustee's. A number of the more important Trustee questions are considered on these side buttons but it should be remembered that the context in which a matter is being considered will heavily influence...

Related Party Acquisitions

The links below are directly or indirectly related to the acquisition of assets from related parties. ATO ID 2010-172 Joint investors ATO ID 2010-217 CGT small business in specie ATO ID 2012-52 Geared trust converting to 13.22C ATO ID 2012-79 Contribution caps & multiple share parcels Income Tax Assessment Act 1997 Super Extract NTLG Dec 2007 Insurance policy acquired from a member NTLG...

Wholesale Investors

Where the trustee of an existing SMSF receives advice about how to invest the fund's assets the fund will be regarded as a wholesale investor if the person providing the advice determines that the trustee is a wholesale client, based on the general test. Under the general test, the circumstances in which the SMSF will be a...

Pensions

The links below are directly or indirectly related to pensions. ATO ID 2002-731 Same sex partner dependant ATO ID 2010-1 Child definition ATO ID 2011-77 Meaning of child dependant ATO ID 2011-83 Dependant former spouse, same sex ATO ID 2012-84 Allocation from pension reserve account Income Tax Assessment Act 1997 Super Extract NTLG Dec 2007 Super Interests NTLG Dec 2010 Super interests & pension...

Online Reporting

Our systems provide 24/7 online reports so your choice of investments will determine the accuracy, immediacy and cost of our service. The optimal position is if your investments are chosen solely from our list of available downloadable investments. This list is expanded on an ongoing basis so if you cannot locate your particular preference please contact...

Downloadable Investment List

Though it is not mandatory to use the investments listed they do maximise the efficiency and accuracy of the service by reducing the need for manual input. They also reduce the cost of our service to you. SMSF Alliance does not provide any warranty of performance or otherwise for any company or product noted. They are...

Investment Matters

As a Trustee you have the discretion to decide what your SMSF invests in. You will need to ensure that all investments are consistent with the SMSF's investment strategy and do not breach the SIS Act or other laws. You may seek professional investment advice and need to consider the potential income and growth as well as...

Buy Sell Agreements

The ATO have released ATO ID 2015/10 Superannuation Self-managed super fund: Life insurance - Buy sell agreement - financial assistance - sole purpose that clarifies their view that a SMSF contravenes super laws by purchasing a life insurance policy that covers the life of a member where the purchase is dependent on a buy-sell agreement. The following...

Life Insurance

The links below are directly or indirectly related to life insurance. ATO ID 2002-371 Deductibility of trauma premiums ATO ID 2008-111 Anti detriment justification ATO ID 2008-112 Anti detriment ignores expenses ATO ID 2009-108 Disability super benefit medical certificates ATO ID 2009-109 Disability super benefit ATO ID 2009-125 Disability rollover pension commencement ATO ID 2010-5 Anti detriment formula ATO ID 2010-76 Insurance deduction &...