Pension phase

Pension phase is the period during which a super fund pays an income stream or pension. The alternative to a pension phase is the accumulation phase.

Set out below are all SuperGuide articles explaining Pension phase.

SMSFs: How do I calculate CGT on an asset sale?

Q: If I purchased a rental property in my SMSF for say $300,000 five years ago and the house is now valued at $400,000 in the SMSF what will be the capital base for the calculation of future capital gains tax (CGT) if I sell the flat? Will it be the original $300,000 or the $400,000?A: I am not … [Read more...]

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?A: Before I respond, please note that anyone considering the tax implications of a strategy or investment decision should speak … [Read more...]

SMSF confidential: the inside story on DIY super funds

Note: The ATO publishes an annual report about SMSFs for each financial year. This article covers the ATO’s 2013-2014 statistical review of SMSFs (released in December 2015). This report also contains data for the 2014-2015 year. The annual report for the 2014-2015 year will be available in late … [Read more...]

Tax-free super for over-60s, except for some

If you withdraw your super benefits after you turn 60 years of age, you can expect to pay NO tax on those super benefits, unless you are a member of certain public sector super funds (see summary table at the end of this article).Due to the large number of emails I receive on this topic, I’ll … [Read more...]

Do I pay tax on a super account in the last year of accumulation phase?

Q: On 1 May 2016 I am transferring from accumulation phase to pension phase (I turn 65 on 30 April 2016). Is my super fund subject to tax (for 2015/2016 year) on income earned up until the date of conversion, or is no tax payable because the fund has been converted to pension phase?Earnings are … [Read more...]

Super pensions: Starting a TRIP takes planning

Quoting author Mark Twain, “Age is an issue of mind over matter. If you don’t mind, it doesn’t matter”.Humour aside, apparently the term ‘pension’ can trigger a negative reaction for some baby boomers. Many baby boomers don’t even like the relatively inclusive term of ‘seniors’ because this term … [Read more...]

SMSF pension: After making super contributions, when can I convert to another pension?

Q: I am 67 and work part time, so I qualify to make concessional contributions to our SMSF. I am already receiving an account based pension from my SMSF. The new contributions I make will have to go into an accumulation account. How long do I have to wait before our SMSF can pay another account … [Read more...]