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New Product

We are excited to announce a new product solution for your clients – E-PROCESS! With a fixed fee price of $990 ($82.50/mth) for administration and a reduced yearly audit fee of $250 it is an affordable product with the same high quality features you expect from us. E-Process is a wholesale, download only solution. This means it applies...

September 3, 2017
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Transfer Balance Account Reporting

The ATO has released a discussion paper on the new Transfer Balance Account Reporting regime. Significantly, the paper assumes that the merits, desirability and practical implementation of the new regime are settled. What is now open for discussion are two alternative implementation options concerning which events should be reported 10 days from month end and which...

August 21, 2017
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ASIC SPAM Emails

We have noticed that there has been an increase in emails supposedly from ASIC requesting that the Business Name or Company Renewal is due. If we are your registered agent you will not receive these emails. Before clicking the links please check the sender address, if it ends in AustralianGovernment.com it is not from ASIC. If it also...

July 24, 2017
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Order of Pension Commutation

In our last newsletter we announced the release of our documentation tool which satisfies the requirements of PCG 2017/5. Where the member has multiple pensions, the completion of this document involves the selection of the order in which pensions are to be commuted. The selection will involve the following considerations. Firstly, which pensions, if any, are grandfathered...

June 9, 2017
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Mandatory Document Tool Released

To avoid a breach of the transfer balance cap it is necessary for members to limit their retirement phase balance to $1.6M by the 30th June 2017. The ATO acknowledge that 30 June member balances will not be known until sometime after that date so, in deference to the rule of bureaucracy, PCG 2017/5 has been...

June 6, 2017
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Market Linked Pensions Tips & Traps

The transfer balance cap limits the amount that can be in the retirement phase on 1 July 2017. This will be the annual income for the 2017/2018 year multiplied by the term remaining from 1 July 2017. As market linked pensions can be paid plus or minus 10% of the calculated amount, it is possible to make...

May 28, 2017
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Great News

A couple of weeks ago we referred to the contentious limited recourse borrowing proposal that would see the debt counted as an asset for total super balance purposes. The good news is that it is missing from the Bill that has just been tabled in Parliament. The first part is still there but it merely states that,...

May 25, 2017
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Don’t Fix It Too Quickly

Just be aware that, for unsegregated funds, the CGT reset is only available for adjustments made on 30th June 2017. This means that such funds must have a member with more than $1.6m in pension or with a transition to retirement pension on that date. If members have taken measures to deal with these matters by ceasing a transition...

May 16, 2017
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