WHAT IS AN SMSF (SELF-MANAGED SUPER FUND)?
Understanding self-managed superfund
General transfer balance cap increasing in 2021/22
The general transfer balance cap for superannuation increased in 2021/2022
SMSF Basic KNOWLEDGE
It is Different A Self-managed super fund (SMSF) is different to what are widely known industry and retail super funds. The money contributed by you and you can chosse the investments and the insurance. This article provide some basic knowledge of SMSF. Types of SMSFs: (a) Single member SMSFs, and (b) SMSFs other than [...]
Managing contributions amounts that are greater than the non-concessional cap
Restrictions on non-concessional contributions can mean that a member who has funds in excess of the non-concessional cap (for example through inheritance, bonuses, the sale of a house etc) may be restricted in their planning. One way an individual can work with the cap on non-concessional contributions may be to invest jointly with a SMSF [...]
SMSF Trustee administrative penalties from 1 July 2013
A person will be liable to an administrative penalty if certain provisions of the Act are contravened in relation to an SMSF. The amount of the penalty is an amount specified in the table below with penalty unit being equivalent to $170. The administrative penalty can be imposed on either: – Trustee of an SMSF [...]
Superannuation Update
When considering if a SMSF suits your retirement plan or your investment needs, it is always better to carefully review the full picture before make a decision. The following points outlines the key
Benefit payments from SMSF
The common popular pension for a SMSF nowadays is account based pension. Generally speaking all pensions that commence after 19 September 207 must meet the minimum pension standards. Please contact Superfund Works for information on other types of pension. What are the minimum pension standards? The minimum standards mean that the super pensions you pay [...]