super

Superannuation contributions ‘work test’ for over 65s

  Whether or not the trustee of a complying superannuation fund can accept member contributions for those aged between 65 and 75 depends on the member satisfying the “work test”. The work test requires a member to have been gainfully employed for at least 40 hours in a period of not more than 30 consecutive

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SMSF commutation requests: How to get the green light from the ATO

  The ATO has issued guidance on its approach to commutation requests, which is an essential piece of information for SMSF trustees because it explains which commutation requests will not be subject to an ATO review. The practical compliance guideline concerned is PCG 2017/5. With recently introduced superannuation rules now in effect (from 1 July

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What the Royal Commission has uncovered on superannuation

  The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (to give it it’s full name, but we can just call it the Commission) has provided a steady diet of horror stories and shone a not-too-pleasant light into the murky world of corporate financial advice. While no sector came out unscathed,

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Maximising contributions into your SMSF

  Gabriela Rusu explores some strategies that can be used to maximise contributions into SMSFs, and identifies the opportunities and the practical steps involved in implementing these strategies.   Most superannuation strategies revolve around the effective use of contributions to gradually build the amount of super savings needed to live comfortably in retirement. Super contribution

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Early release of super savings under review

On 8 December 2017 the government announced that Treasury will conduct a review of the rules governing the early release of superannuation benefits, including for victims of crime compensation. The government says the rules governing early release of superannuation benefits have not changed substantially since 1997. “The superannuation system has come a long way since

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