superannuation

Are some of your clients about to get a Div 293 shock?

Division 293 was introduced about five years ago, and is intended to even out the concessional tax treatment that higher income earners enjoy on some superannuation contributions. This results from super contributions made before tax being taxed at 15% within a fund, and the higher relative difference in marginal rates for high income earners compared

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SMSF news just keeps getting better

The ATO has just released the latest of what has become a regular update on the state of the SMSF market. The Self-managed super fund statistical report, with the latest covering the quarter to March this year, has become an anticipated overview for many in the SMSF arena — containing as it usually does some

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Overview of estate planning and testamentary trusts

Estate planning involves developing a strategy to deal with assets after a person dies – with the legal instruments and structures, such as a will, put in place to transfer the ownership of these assets in the event of death. Estate planning and testamentary trusts Tax is a major consideration in estate planning, and strong

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Transfer balance cap modifications for certain income streams

Writing for Tax & Super Australia’s superannuation journal The Contributor, Gabriela Rusu from GR Super, an independent self-managed superannuation fund (SMSF) service provider, says that the imposition of the $1.6 million transfer balance cap on retirement phase income streams is one of the most significant changes to super that will apply from 1 July 2017.

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SMSFs and the in-house asset rules explained

A not-uncommon conundrum for many SMSF trustees is what to do when the fund is found to have breached the in-house asset rules. There are also some common misconceptions about these regulations that keep resurfacing. What does the ATO say in relation to the in-house asset rules? Recent ATO statistics on the SMSF sector show

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