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.

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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

Non-arm’s length expenses – changing old habits

“Does my SMSF have to pay for that?” Or, “how much does my SMSF have to pay for that?” Both

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