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16/05/2023
The pension of a deceased member can be paid out to their spouse as a pension even though there was no reversionary instruction or binding death benefit nomination associated with it.
Death benefit pension doesn’t need order - SMS Magazine It's not necessary to have a reversionary instruction or BDBN to pay a death benefit to the spouse of a deceased member via a pension.
10/10/2022
05/05/2022
Changes to contribution rules effective 1 July 2022
New contribution rules for 2022/23 The contribution rules applying for the 2022/23 and later financial years have been significantly (and favourably) altered by the implementation of the Federal Government's superannuation reform announced in the 2021 Federal Budget.
08/04/2020
Proving rent relief for tenants of SMSF property
Financial Advice Melbourne Sydney Perth | Partners Wealth Group | Partners Wealth Group One of Australia's leading providers of business & financial advisory services for high net worth individuals, business owners & organisations.
23/03/2020
The Government will allow individuals in financial stress as a result of the Coronavirus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21.
Eligible individuals will be able to apply online through myGov for access of up to $10,000 of their superannuation before 1 July 2020. They will also be able to access up to a further $10,000 from 1 July 2020 for another three months. They will not need to pay tax on amounts released and the money they withdraw will
23/03/2020
The Government is temporarily reducing superannuation minimum drawdown requirements for account based pensions and similar products by 50 per cent for 2019-20 and 2020-21. This measure will benefit retirees by providing them with more flexibility as to how they manage their superannuation assets.
09/01/2020
What does an SMSF auditor really do?!
What does an SMSF fund auditor really do? Insights and opinion from Australia's top SMSF experts
18/12/2019
The ATO will soon release new guidance in clarifying acceptable practices for formulating an SMSF investment strategy
SMSF investment strategy guidance imminent - SMS Magazine New guidance in clarifying acceptable practices in formulating an SMSF investment strategy will soon be released by the ATO.
03/10/2019
ATO clarifies tax rules on Non Arms Length Income (NALI) expenditure
ATO ruling clarifies tax on NALI expenditure - SMS Magazine The ATO has released a new ruling outlining proposed amendments to non-arm’s length income (NALI) expenditure provisions which will apply from 2018 onwards.
17/09/2019
The ATO have issued letters to trustees recently examining investment strategies regarding diversification, with the belief they are targeting SMSFs with Limited Recourse Borrowing Arrangements
ATO letters could be targeting LRBA investments - SMS Magazine Limited recourse borrowing arrangements (LRBA) may be the target of ATO scrutiny resulting from its recent letters to SMSFs about investment strategies.
30/08/2019
Changes to LRBA provisions will affect trustees close to retirement
Article by SMSF Adviser
Melbourne, Sydney retirees most affected by LRBA changes Incoming changes to LRBA provisions are likely to affect the majority of SMSF trustees in Melbourne and Sydney who are approaching retirement and have recently purchased a property within their fund, according to a major financial institution.
29/10/2019