SMSF audits, Retirement calculators, Franking credits, Total super balance, Super contributions
Highlights of the May 2018 edition of the SuperGuide newsletter include:
- SMSF AUDITS: Belinda Aisbett contends that three-yearly SMSF audits will undermine the integrity of the SMSF sector. They don’t benefit SMSF trustees, will add to complexity, and will inevitably push up costs.
- RETIREMENT CALCULATORS: Our new Retirement Income Reckoner can help you quickly and simply understand approximately how much retirement income your super savings might be able to generate, or try our handy guide to minimum pension payments rules (including calculator), or our Age Pension calculator to estimate how much you may be eligible for.
- ALP’S FRANKING CREDITS POLICY: Roger Wilkins from the University of Melbourne analyses the demographics of the retirees targeted in Labor’s dividend imputation credits plan
- CONTRIBUTIONS ARTICLES: Find out how the new catch-up rules apply, learn if you can use use contribution splitting to boost your spouse’s super, or whether you can make tax-deductible super contributions.
- TOTAL SUPER BALANCE: The concept of a Total Super Balance is one of the biggest changes to the super rules in recent years. We explain how the TSB rules work and when they apply.
THE SOAPBOX
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RETIREMENT RECKONERS AND CALCULATORS
Age-based minimum annual withdrawal rates apply to account-based pensions. Here’s how they are calculated. Read more.
Age-based minimum annual withdrawal rates apply to account-based pensions. Here’s how they are calculated. Read more.
Our Age Pension calculator gives you an estimate of your potential Age Pension entitlements based on your situation, assets and income. Read more.
Our Age Pension calculator gives you an estimate of your potential Age Pension entitlements based on your situation, assets and income. Read more.
FEATURES
If you haven’t used all your concessional contributions cap in recent years you can play catch-up and get a handy tax concession to sweeten the deal. We explain how. Read more.
If you haven’t used all your concessional contributions cap in recent years you can play catch-up and get a handy tax concession to sweeten the deal. We explain how. Read more.
Couples who plan together succeed together. Learn how paying attention to your spouse’s super could maximise your opportunities. Read more.
Couples who plan together succeed together. Learn how paying attention to your spouse’s super could maximise your opportunities. Read more.
Making a tax-deductible super contribution can be a great way to boost your retirement savings. Find out whether they could be the right strategy for you. Read more.
Making a tax-deductible super contribution can be a great way to boost your retirement savings. Find out whether they could be the right strategy for you. Read more.
Your total super balance determines whether you can use a range of valuable super measures. Learn how it works and what you could be eligible for. Read more.
Your total super balance determines whether you can use a range of valuable super measures. Learn how it works and what you could be eligible for. Read more.
The transfer balance cap limits the amount you can transfer from your super savings into a tax-free pension. The cap is currently $2m but you may have a different cap… Read more.
The transfer balance cap limits the amount you can transfer from your super savings into a tax-free pension. The cap is currently $2m but you may have a different cap… Read more.
End of financial year asset valuations are routine for SMSF trustees, but they will assume even more importance with the introduction of Division 296 tax. Read more.
End of financial year asset valuations are routine for SMSF trustees, but they will assume even more importance with the introduction of Division 296 tax. Read more.
CONTRIBUTIONS STRATEGIES
It can be confusing to understand all the different types of super contributions. But it’s worth learning the main types and what each one offers you. Read more.
It can be confusing to understand all the different types of super contributions. But it’s worth learning the main types and what each one offers you. Read more.
High-income earners face a quarterly cap on the amount of income on which their employer must make SG contributions. Here’s the limit for 2024–25. Read more.
High-income earners face a quarterly cap on the amount of income on which their employer must make SG contributions. Here’s the limit for 2024–25. Read more.
By directing some of your pre-tax income to super, you not only boost your retirement savings but save tax at the same time. Read more.
By directing some of your pre-tax income to super, you not only boost your retirement savings but save tax at the same time. Read more.
A free co-contribution payment made by the government into your super account can be a great way to boost your super account if you have some money to spare. Read more.
A free co-contribution payment made by the government into your super account can be a great way to boost your super account if you have some money to spare. Read more.
TRANSFER BALANCE ACCOUNT
Understanding the transfer balance account rules, including timing and transaction reporting, is extremely important for SMSF trustees.. Read more.
Understanding the transfer balance account rules, including timing and transaction reporting, is extremely important for SMSF trustees.. Read more.
FOR YOUR REFERENCE, AND CONVENIENCE
- Superannuation rule changes from July 2021
- Superannuation Guarantee (SG) contributions rate and rules
- Australian personal income tax cuts from 2018/2019 year
- Income tax: Australian tax brackets and rates (2019-2020 and 2018/2019)
