Recent increases to contribution caps also impact your total super balance. Here’s how it works.
The amount you can have in a super pension account (known as the transfer balance cap) just increased, but so did the complexity of the rules.
John Maroney, CEO of the SMSF Association explains the amnesty on legacy retirement income products that was announced in the 2021 Federal Budget.
John Maroney, CEO of the SMSF Association provides some end of financial year tips for SMSF trustees.
SMSF members will be able to exit old-style pensions for new if this Budget measure comes to pass.
As you approach retirement, you need to consider what you want to do with your super – lump sum, income stream or a bit of both.
An actuarial certificate is a document that certifies how much of a SMSF’s earnings are derived from its members’ accumulation phases and retirement phases.
Younger retirees might like to consider moving their funds back into accumulation phase for the time being.
One of the benefits of having a self-managed superannuation fund (SMSF) is its ability to pay members an income stream, or account-based pension. Of course any superannuation fund can do this, but paying a pension from an SMSF offers members more control and flexibility.
Self-managed superannuation funds offer members some useful advantages when it comes to paying pensions. One such benefit refers to the treatment of income earned on assets that are supporting a pension, called exempt current pension income or ECPI.
When it comes to your super benefits, tax is always at the heart of it, whether it’s when you make a contribution, or when you take your money out at the other end.