SMSF Tech

Resetting your SMSF CGT cost base

The superannuation reform changes that take effect on July 1 have created a deal of discussion and debate about a whole range of things from contributions through to the impact on a client’s estate planning. One of the greater mysteries…

Q&A – 15 May

Q: Can I make concessional contributions to super once I have more than 1.6 million? A: It is possible for a person to have concessional contributions made to superannuation irrespective of the total amount they have in super. There is…

LRBA amendment may be a negative for SMSF borrowing

Repayments of SMSF borrowings will have an impact on the fund’s transfer balance cap, under draft amendments to the new super rules released by the Government last week. The amendments will also change the way limited recourse borrowing arrangements are…

Q&A, 8 May

Q: Do I have to withdraw a minimum amount from amounts transferred to an accumulation account, as I do with my pension account? A: No, only account based pensions and transition to retirement pensions require a minimum set percentage of…

Transition to retirement income streams still a good option

Despite a pessimistic view by some, the reasons for having a transition to retirement income stream have not changed, it’s just that the investment income earned by the superannuation fund will be taxed at 15 per cent from 1 July…

Q&A: Graeme Colley

Question: Can I even out the $1.6 million cap between me and my spouse? Answer: In situations where either a fund member or their spouse has more than $1.6 million in superannuation, it is not possible to transfer any excess…