Articles by
Garth McNally
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Q&A: Can my SMSF make charity donations and claim a deduction?
Q: During our working lives, we’ve made tax deductible charity donations and claimed the tax deduction against personally generated and other income. Most of our SMSF is now in pension mode, but we still have some in accumulation. Can the SMSF make charity donations in its own name and claim the deduction against any income…
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SMSFs: How to start a pension
There are decisions to make and steps to take before a fund member can start withdrawing retirement income from their super. Here’s what trustees need to know.
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TBAR: Transfer balance account reporting for SMSFs
Understanding the transfer balance account rules, including timing and transaction reporting, is extremely important for SMSF trustees..
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How lump sums can reduce your transfer balance account
If you are considering taking more than the minimum amount from your super pension account, the way you do it counts.
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Commuting an SMSF account-based pension
If you want to commute (roll back) some or part of a super pension, or combine multiple pensions, you need to follow strict rules.
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What SMSF trustees need to know about exempt current pension income (ECPI)
Understanding the rules around ECPI can help reduce tax and save costs when fund members move into retirement phase.
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Q&A: What is the process for contributions reserving?
Q: I would like to use the contributions reserving strategy this year to offset my vast capital gains tax. I understand the strategy, but would you be able to confirm the process?
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Q&A: Can I make super contributions after commencing a pension?
Q: I’m 70 years of age, retired and currently receiving a pension from my self-managed super fund. I would like to add additional money, non-concessional, to my superannuation. Am I able to do it? And what are the steps to carry out this task?
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How to avoid getting caught in the in-house asset trap
Falling foul of the in-house asset rules can be a costly mistake for SMSFs and continues to be a tricky area for trustees.
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Can my SMSF loan money to me or my business?
Loans made by your SMSF are the exception, not the rule, and getting it wrong can be costly.
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Q&A: What account authority should my accountant have?
My accountant, the SMSF administrator, has requested full third-party authority for our fund account. Is this common practice?
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Election outcomes for your SMSF
Now that the 2025 election is decided, which super policies will be enacted and what is now off the table as a result?
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Q&A: Do I have to take my SMSF pension as regular payments?
My accountant says I should take it as a regular payment spread out over the financial year because the ATO prefers this.
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Q&A: Does the frequency of my employer contributions affect my portfolio growth?
Q: Does my employer only have to pay across the super fund contributions in quarterly intervals, as this impacts on the amount invested and growth of my portfolio?
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Q&A: Can non-concessional contributions be made if the Transfer Balance Cap has been reached?
If you have previously reached your full transfer balance cap, but now you are well below the $1.9 million cap, can you undertake the bring forward rule and make a non-concessional contribution of $360,000?
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SMSFs: Segregating assets in retirement phase
In some circumstances it can make sense to allocate assets to particular fund members. We explain the how and the why.
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SMSFs: Investing in private companies
Investing in unlisted or private companies is perfectly legitimate for SMSFs, but there are strict rules around how it’s done.
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Q&A: Can we lend to our SMSF to buy a property?
Q: We’re looking to borrow money on our SMSF to purchase a property. Can we be the lender to the SMSF as we have surplus cash?
