Toolbox

Birthdays

Birthdays provide an opportunity for you to reinforce your personal client relationships. Many also have legal ramifications that will affect your clients’ superannuation position. To assist you we; list all client birthdays indicating those that are within 28 days before the birthday send you an email alert 28 days beforehand, to prompt you to make an appointment if...

Pension issues for last year

This alert is intended to ensure that the appropriate levels of pension have been paid last year. It is only useful if last year's financials have not been completed and if benefit payments have actually been made. Typically the following adjustment types would be expected; seeking to limit the damage where pensioners have breached the maximum ...

Pension issues for the current year

This alert is intended to ensure that, by year's end, the appropriate levels of pension have been paid. It will activate if a pension minimum has not been met or a pension maximum has been breached. As a pension minimum will often not be met until the end of June this alert will not activate until...

Opportunities & Alerts

One of the primary functions of the SMSF Toolbox is to draw your attention to opportunities and alerts sourced from the data held within each fund. Many of these may become recommendations for your clients but this will depend on your assessment. We have endeavoured to include the data you will need to facilitate your assessment though...

SMSF Toolbox User Guide

Operational Items The Toolbox is linked to the Class data base in real time. Any transactions processed in Class will be immediately reflected in the Toolbox. The opportunities and alerts are recalculated overnight. The Class link can be temperamental when used on Microsoft Explorer. For best experience we recommend Google Chrome or Safari. From time to time you will...

TRIS Converting to Retirement Phase

A transition to retirement income stream is not a retirement phase income stream so does not count towards the members transfer balance account until there has been a trigger of release. This may occur for various reasons including actual retirement after preservation age or total and permanent disability. These triggers require the trustee to be informed so...

Reversionary to TBA shortly

A reversionary pension commences on the date of death of the pension member. The transfer balance account of the reversionary pensioner will not be affected for one year but, at that time, it will form part of the reversionary pensioners transfer balance account to the extent of the pension balance at the date of death. If...

Recontribution for Tax

Some members are concerned at the level of tax that would be payable by their adult independent children on receipt of the taxable portion of their superannuation death benefit. The tax payable by a spouse or tax dependent is zero however adult children are very seldom tax dependants - a notable exception is a profoundly disabled...

Account Equalisation by Recontribution-Gifting

When the transfer balance and total super balance regime was introduced it included a significant lack of fairness. With the individual's general cap of $1.6m, in either case, there was no allowance made for couples with significantly disparate balances. The result was that a couple, where one had a $1.7m balance whilst the other had a...