Articles by
Garth McNally
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Q&A: Can I move my pension to another provider?
Q: I’m drawing a pension from an account-based pension fund. Can that account be moved or switched to another better provider? If so, what is involved?
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SMSFs: Running multiple pensions for the one member
Running multiple pensions from the one SMSF can be extremely beneficial. From tax planning to estate planning, there is a lot to consider!
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SMSFs: What are the lump sum withdrawal rules?
Do you know the difference between pension payments and lump sums? The process for taking a lump sum from your accumulation account or your pension account?
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Q&A: I’m 63. Can I start a transition-to-retirement pension if I quit one of my jobs?
Q: I am currently 63 and I work 4 days a week as a receptionist in a doctor’s surgery. I also work 2 days a week in the local chemist. Can I commence a TTR once I cease my role at the chemist shop?
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Q&A: If we transfer assets to a new SMSF, will there be capital gains tax?
Q: My wife and I have set up a new SMSF with a corporate Trustee (we are the directors). We want to transfer the assets from our old SMSF (we are the trustees). Some of the shares have large unrealised capital gains (e.g. Cochlear, CSL). Will there be capital gains tax payable by the old…
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Q&A: If I make bring-forward contributions, do I have to wait 3 years before I can start a pension?
Q: I have two super funds and being in my 60s and retired believe I’m eligible to change from accumulation to pension. If I do this, does this need to happen for both funds, or can I choose to have one fund with one account in pension/drawdown mode and have the second fund with one…
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Common errors SMSF trustees make with their annual returns
If you want to stay on the right side of the ATO and avoid costly penalties, it pays to review its list of common mistakes made by SMSFs when lodging their annual return.
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Buying property in an SMSF Q&As: Part 1
Holding real property in an SMSF is a popular strategy, but the rules can be confusing. We answer some common questions from our readers.
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SMSF pension strategy: Lump sum payments
With restrictions on the amount you can use to start a pension, understanding how you can then access these funds has become an even more important issue.
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Q&A: How do I ensure a lump sum is taken from the right pension account?
Q: Myself and my husband both 72 have an SMSF. We both have 3 individual pension accounts in our fund. I have paid out the required minimum amounts for this year as per our accountants’ instructions.
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Transition to retirement Q&As
There’s growing awareness that TTR pensions can be used to achieve a variety of tax and other outcomes. Here we answer some recent questions from our readers.
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Q&A: Must super be paid out of an SMSF after the death of a spouse?
Q: If you and your wife are retired and have an SMSF, what happens when one of you dies? Can you keep the money in the SMSF for the other person to still live off if you are the only person on the binding death nomination? Or does it need to get paid out of…
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Transition-to-retirement strategies
A TTR pension not only offers greater work-life balance, but it can also open up potentially beneficial strategies and opportunities.
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Q&A: What are the benefits of spouse super equalisation strategies?
Q: Nikki asks, I would like to understand what the benefit is for my husband to withdraw funds when he turns 60, and then I reinvest the funds back in my name.
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Webinar: Buying property in an SMSF
From the compliance requirements to the strategic opportunities, this webinar will also include an attendee Q&A Session.
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Non-arm’s length expenditure (NALE) rules for SMSFs
Don’t know your NALE from your NALI? Failure to attend to both can lead to some gnarly tax outcomes.
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Can I live in my SMSF property?
It’s a common question which is generally answered with a firm no, but there are exceptions to the rule.
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Preservation age and transition-to-retirement pensions align
The stars have aligned for the preservation age and tax-free super payments, reigniting interest in TTR pensions.
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