Case studies: Am I eligible for the Age Pension?
Around 80% of retired Australians receive a part or full Age Pension which means most Aussies considering retirement will need to understand how the Age Pension rules operate. This article contains three case studies illustrating how the Age Pension works in practice.
SMSF confidential: the inside story on DIY super funds
In April 2012, the ATO published key data about SMSF costs, investment performance, SMSF asset allocation, SMSF demographics, types of trustees and what SMSFs are doing in pension phase.
SMSFs: Selling a property asset and CGT
Q: If my self-managed super fund (SMSF) owns an investment property, and the SMSF later sells the property, what is the amount of capital gain tax payable by the SMSF?
Mirror, mirror… what super fund is the best-performing fund of all?
Asking experts and rating agencies for Australia’s best-performing fund can be compared to the vain stepmother in Snow White asking the magical mirror: ‘Mirror mirror on the wall, who in the land is the fairest of all?”.
SMSF pension: After making super contributions, when can I convert to another pension?
Can I start the new account based pension as soon as I meet another “condition of release”, ie stop my part time employment?
Do I pay tax on a super account in the last year of accumulation phase?
Q: On April 1 2011 I transferred from accumulation phase to pension phase (I turned 65 on March 27 2011). Is my super fund subject to tax (this tax year) on income earned up until the date of conversion or is no tax payable because the fund has been converted to allocated pension?
How does my super benefit affect my Age Pension entitlements?
Q: When I retire I will be 61 and my husband will be over 65 and will be eligible for either a full or part old age pension. If I keep my super in an accumulation account and withdraw lump sums to cover additional living expenses, how will this effect my husband’s pension benefits? Is this the best way to maximise our retirement funding?
CGT calculations for SMSFs
Q: If I purchased a rental property in my SMSF for say $200,000 five years ago and the house is now valued at $300,000 in the SMSF what will be the capital base for the calculation of future capital gains tax (CGT) if I transfer the house out of the fund?
Non-concessional contributions: Re-contribution strategy still applies
Q: My wife will turn 60 later this year and it has always been my intention to cash out her portion of our small self managed super fund (SMSF)…
SMSF pension: How do I calculate my minimum pension payment?
Q: I run our SMSF. I am 51 and I wish to retire at 55. I am a little confused about the 4% minimum rule for pensions. Do I have to withdraw 4% of my total accumulation SMSF fund, or do I move some of the assets into a pension fund and then draw 4% a year?
SMSF pension: Can I still make super contributions?
Q: I am 62 years of age and retired. I have recently commenced an account-based pension from my SMSF. Can I still make non-concessional contributions to that fund?
