SMSF pensions

Set out below are all SuperGuide articles explaining SMSF pensions.

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...]

SMSF pensions: Stick with original tax-free and taxable components

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Q: I recently read your book on DIY Super for Dummies and picked up a number of useful hints. Thanks for writing it. My wife and I have only recently established a SMSF and are on a steep learning curve. We are in the pension phase. Both of us have a large tax-free component and a smaller taxable … [Read more...]

Retirement and tax: What are the minimum pension payment rules?

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Q: I am 63. I want to retire next year but I am not sure if I want to access my super benefits yet. I have heard that when I retire, I must withdraw some super benefits each year, otherwise I won’t receive tax-free super benefits. Can you please clarify the rules for me? A: You question is really … [Read more...]

Super pensions: Is there an upper limit to how much we can withdraw?

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Q: I am aware that the minimum amount of pension withdrawal is 4% (for under 65s) of the pension account balance. Is there now any MAXIMUM amount of pension required to be drawn from a super fund? If no maximum payment is required, is this still the case for account based pensions, transition to … [Read more...]

It’s official! More changes to SMSF rules from July 2014

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In March 2014, the Australian parliament finally gave the nod to a suite of penalties directed at SMSF trustees who fail to properly adhere to the super rules. According to the explanatory memorandum that accompanies the new legislation, the new SMSF penalties, taking effect from 1 July 2014 will … [Read more...]