by smsf | 16 May 2024 | News
The budget was largely missing any announcements particular to our sector. On related matters, the deeming rate won’t change – relevant to social security recipients – and there has been funding allocated to implementing already announced government initiatives. Items... by smsf | 9 May 2024 | News
Last night, the inaugural Australian Wealth Management Awards 2024, an initiative of Momentum Media’s wealth publishing network, encompassing Investor Daily, ifa, SMSF Adviser, Money Management, and Super Review were presented. We were delighted to win the Best SMSF... by smsf | 28 Apr 2024 | News
A transition to retirement income stream is not only useful as a source of income before retirement but also effective as a salary sacrifice strategy for higher rate taxpayers. Though a TRIS does not create tax exempt income within the fund the pension payable to a... by smsf | 23 Apr 2024 | News
A downsizer contribution of up to $300k can be made by a member and/or their spouse who is 55, or older, at the date of contribution provided it is made within 90 days of the property settlement date. If the home was only owned by one spouse, the other may also make a... by smsf | 16 Apr 2024 | News
So called contribution reserving is unique to SMSF’s. The process is not actually reserving at all but, rather, one of deferred allocation. Subject to the deed, a contribution is not required to be allocated to a member account until 28 days into the following month... by smsf | 3 Apr 2024 | News
Provided that a member has a total super balance of less than $500,000 as at the previous 30 June, and is eligible to make concessional contributions, a contribution equivalent to this year’s cap plus any unused cap amounts for the previous 5 years can be made. SMSF...