SUPERCentral News
The ATO has determined that the "safe harbour" interest rate where the acquired property is real estate will be - 5.65% pa (previously 5.75% pa).
The Guide to SMSF Borrowing Volume 1 & 2 have been updated, and amongst a number of things, great detail was given to the related party loans to address non-commercial LRBA issues and safe harbour guidelines in light of guidance recently released by the ATO, as well as the CGT issues.
The current version of the SUPERCentral Governing Rules, Version 03/17, has now been registered as a standard terms document for the purposes of Queensland land titles. The registration number is 717912363.
The ATO has recently issued the key superannuation thresholds which will apply in respect of the 2017/18 financial year.
This question is more important than you might think. But first, what is a 'foreign trust' - and why is this so important?
The Government has resolved the controversy as to whether transition to retirement income streams (TRISs) can ever qualify for the earnings tax exemption by deciding to amend the relevant legislation.
The real deal for pensions which commence as TRISs is as follows:
If John-Marie commences his first account-based pension on 1 July 2021 with an amount of $1,080,000 at which time the TBC limit has been increased to $1.8, how does his transfer balance account operate?
There is a current controversy as to whether transition to retirement pensions (TRISs) can automatically convert to account-based pensions or must they be stopped and restarted as account-based pensions.
The purpose of the cap is to place a limit on the amount of super capital which can be transferred into pension phase - and thereby enjoy earnings tax exemption.
The courts are littered with examples of 'do it yourself' Wills that have gone wrong. It doesn't matter how simple you think your Will is - even smart people - very smart people - can and do get them wrong.
A learning approach that teaches advisers to ‘think estate planning’. SUPERCentral releases new course for advisers to confidently meet the needs of the inter-generational wealth transfer demand
SUPERCentral has produced a tool to help you prepare your SMSF clients for the new superannuation world post 1 July 2017.
Ordinary and CGT non-concessional contributions have their own separate contribution caps: an annual $100,000 cap and a $1,415,000 lifetime cap (2016/17 dollar value of the cap).
If you have not triggered the bring-forward in respect of 2016/17 and you are under age 65 at any time during the 2016/17 financial year, this is the last financial year in which you can make $540,000 of ordinary non-concessional contributions.
In respect of the 2017/18 and following financial years, contribution planning will be dominated by:
In this situation only one year of the bring-forward period occurs before 1 July 2017 with two years of the bring-forward period occurring after 1 July 2017.
These contributions are not subject to any contribution cap. Consequently, they can be made whether or not the relevant member has exhausted their non-concessional contributions cap, the bring-forward cap or the CGT non-concessional contributions cap.
In this situation, all years of the bring-forward period occur after 1 July 2017.
In this situation two years of the bring-forward period occur before 1 July 2017 and only one year of the bring-forward period occurs after 1 July 2017.