SMSF pensions

Set out below are all SuperGuide articles explaining SMSF pensions.

A 10-step action plan for your SMSF

Any Australian who accumulates enough superannuation to justify the cost of setting up and running a self-managed super fund is progressing well with their retirement plans. Looking after your own retirement needs, by using a SMSF, is certainly an empowering move, but such a decision also comes with … [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...]

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

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...]

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 pension: Stick with original tax-free and taxable components

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...]

SMSFs: What is the proportioning rule?

Q: I have come across a statement which refers to a proportioning rule. Could you please explain to me exactly what the proportioning rule is, who it applies to and when it applies, and how you do the calculations for a SMSF?The short answer is: the proportioning rule is a mechanism to calculate … [Read more...]

Less Age Pension, and paid to fewer Australians

The change to the Age Pension rules is a bad example of ‘back to the future’ it seems, with a harsher Age Pension asset test taking effect from January 2017. The federal government expects 300,000 retired Australians will lose some, or all, Age Pension entitlements overnight.Before September … [Read more...]