SMSF pensions

Set out below are all SuperGuide articles explaining SMSF pensions.

Age Pension assets test: 300,000 retired Australians to lose some or all entitlements

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Note: The changes to the Age Pension assets test are now law, receiving royal assent on 30 June 2015, and outlined in this article. The successful passage through parliament was due to the Greens supporting the changes. The ALP opposed the changes, which were announced by the Australian Liberal … [Read more...]

Age Pension assets test changes: Comments from readers

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UPDATE: The changes to the Age Pension assets test have now passed both houses of parliament. The successful passage through parliament was due to the Greens supporting the changes. The ALP opposed the changes, which were announced by the Australian Liberal government in the May 2015 Federal Budget, … [Read more...]

Super Guide to the 2015 Tax Discussion Paper

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UPDATE: The government is accepting submissions from the public in response to its 2015 Tax Discussion Paper. The federal government has now extended the submission period until 24 July 2015. I strongly encourage you to make a submission if you want your views heard, and your concerns taken into … [Read more...]

2015 Federal Budget summary: No new taxes on super but bumpy ride for retirees

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On 12 May 2015, the federal treasurer Joe Hockey released the second federal budget of his career. While last year’s budget was fire and brimstone and targeted ‘leaners’ (who Hockey blamed for the state of Australia’s finances, when he was not blaming the former ALP government), Hockey’s launch of … [Read more...]

Budget brief: will I lose my age pension?

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By Rafal Chomik, UNSW Australia Business School The Conversation’s Budget briefs series aims to answer reader questions about the 2015 federal budget. The 2015 budget confirms pre-budget announcements that the government is committed to reducing the cost of the age pension, but will now do so … [Read more...]

ALP policy hits super contributions and pension earnings

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Note: If you are retiring with $500,000 (or even less) in a super pension, you could potentially be hit with the ALP’s proposed new tax on pension earnings. On 22 April 2015, the leader of the opposition, Bill Shorten announced the ALP’s superannuation election policy. If the ALP wins government, … [Read more...]

SMSF compliance: ATO’s hit list for the 2014/2015 year

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Each year, the ATO publicises a list of compliance areas that the regulator intends to target when reviewing SMSFs during the year. Note: The ATO’s compliance approach is to deal with less serious breaches in a collaborative way with the SMSF trustees, by helping them rectify and undo … [Read more...]

New laws: Is your SMSF due for a super service?

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Read this article to discover the rules in place for SMSF trustees, and discover what you can do to ensure your SMSF operates within the super laws. A lot has changed for SMSF trustees in the past few years. The most recent significant change was the introduction of financial penalties, which are … [Read more...]