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New guidance on ability to claim ECPI where minimum pension payments not met
The ATO have released an SMSF News Alert providing clarity on the consequences of not satisfying the minimum pension payment requirements within the SIS regulations. It addresses the ability to apply...
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Superannuation Reform Announcements 5 April 2013
This morning I arrived at work to the announcement that Treasurer Wayne Swan and Minister Bill Shorten would be holding a press conference to announce the Government’s reforms for superannuation ahead...
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Account Based Pensions
Since the implementation of the ‘Simpler Super’ reforms of 2007, the Australian Superannuation System has undergone significant changes. These reforms introduced a new type of pension called an...
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Continued tax exemption on pensions after the death of a member
The provisions to allow a pension superannuation interest to continue in pension phase on the death of the pensioner until the benefits are paid out has now become law under Income Tax Assessment...
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ATO delivering certainty on segregation
As a provider of actuarial certificates we see a wide range of strategies implemented by SMSF trustees. Many of these strategies relate to segregation. Segregation is the idea of keeping some assets...
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ECPI: changes in the 2013 SMSF Annual Return
The reporting of exempt current pension income in the SMSF annual return for 2012/13 has changed from previous years. The ATO has indicated its intention to focus on the the ECPI deduction in 2012/13...
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Minimum Pension Standards
From 1 July 2007 each financial year a SMSF is paying a pension which is an account based type pension (allocated, market linked, transition to retirement, account based) the minimum pension standards...
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ECPI – getting it right
At the recent Institute of Chartered Accountants Australia (ICAA) National SMSF conference in Melbourne (Sept 2013), Assistant Deputy Commissioner of Superannuation, Stuart Forsyth, discussed the ATO’s...
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Coalition Government to abandon tax on pension income superannuation proposal
Treasurer Joe Hockey confirmed in a media conference this morning that the Coalition has a backlog of 92 outstanding superannuation and tax initiatives proposed by the Labour government which were...
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A tax on pension assets… would it work?
Tax concessions for retirees Policymakers and commentators would do well to keep in mind that superannuation is only one of a wide range of investment options open to retirees. Indeed, for retirees...
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