Paying pensions – the importance of planning ahead

Paying the minimum pension amount is a fundamental requirement to ensure an SMSF receives the appropriate tax concessions for meeting the pension standards. In the 2020/21 Financial Year the
minimum pension has been reduced by 50% as a means to assist in the preservation of capital as a result of the COVID-19 pandemic and the economic impact it has had on superannuation assets,
amongst other things. Whilst the measure is a welcome relief to some, who consider the minimum to be above their needs, others will continue to draw down benefits at prior year rates to meet their income needs or they will take over and above the minimum under the premise that you can’t take it with you.

To read this bulletin in its entirety download the PDF version here.

Non-arm’s length expenses – changing old habits

Over time tax law has evolved to disincentives certain income from being diverted into SMSFs or to discourage trustees from

Valuations for Year End Reporting (Trustees)

It is a legal requirement that all SMSFs record and report all assets at market value. Failure to report assets

Valuations and SMSF Checklist for Year End Reporting (Advisers)

As 30 June approaches there are a number of key issues to be reminded of. This guide will provide an

Segregating Assets in SMSF

SMSFs can use segregation to separate the assets of the fund for several reasons. It can be done to separate

Disclaimer: Any information that is financial product advice is provided by SuperGuardian Pty Ltd (AFSL No. 485643 ). The advice provided is general in nature and is not personal financial product advice. The advice provided has been prepared without taking into account your objectives, financial situation or needs and because of this you should, before acting on it, consider the appropriateness of it having regard to your objectives, financial situation and needs. You should carefully read and consider any product disclosure statement that is relevant to any financial product that has been discussed before making any decision about whether to acquire the financial product. Please refer to SuperGuardian FSG https://www.superguardian.com.au/pdfs/Financial-Services-Guide.pdf for contact information.

By accessing and/or using information at or through this site each user waives and releases SuperGuardian to the full extent permitted by law from any and all claims relating to the usage of the material made available through the website. In no event shall SuperGuardian be liable for any incident or consequential damages resulting from use of the material.