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An income stream from your self-managed super fund ensures regular, flexible and tax-effective income as a pensioner. These streams can be received as a series of benefit payments from your SMSF.
Income streams from an SMSF are usually account-based, which means that the amount allocated to the pension comes directly from a member’s... more
Trustees who overlook important details or are reported to the ATO, risk incurring financial, civil or criminal penalties.
The role of the trustee should not be taken lightly as with greater control, comes greater responsibility should the administration of your SMSF go awry.
Protect your retirement nest egg and avoid these common... more
You must make a binding death benefit nomination if you want control and certainty over who will inherit your superannuation assets after you pass away.
Contrary to what you may think, your will does not automatically control the payment of your death benefits. If you do not make a binding death benefit nomination your super trustee
Family trusts and SMSFs carry their own benefits and disadvantages in providing a way to transfer and manage your family’s wealth. By weighing up the points of difference, you can choose the most appropriate option for you.
When it comes to how the super death benefit is paid out, there are specific tax implications involved which affect the amount a nominated beneficiary will receive.
In a situation where super is paid out after an individual has passed, it is generally split up into two components; taxable and tax-free. The tax-free portion
As the end of financial year is fast approaching, it pays to start thinking about how you can grow your superannuation while seeking some tax breaks.
The spouse super tax offset allows higher earning taxpayers who contribute super for their non-working or low income earning partners... more
Right now, the entire world is vulnerable to cyber crime. It doesn't matter how small your business is, how much you have in your savings account or where you are located, hackers are targeting everyone who doesn't have their personal information on lock.
Cyber criminals are attacking Australia's superannuation funds - a small... more
The Australian superannuation system is a fantastic option for everyone, allowing you to set up for a comfortable retirement. In fact, it's one of the best retirement systems in the world. The 2016 Mercer Melbourne Global Pension Index has Australia ranking third out of 27 countries!
There are several ways Australians... more
The decision between living debt free and having sufficient savings for retirement is often a difficult one.
There are benefits to allocating money to both your super and your mortgage. Take your personal circumstances into consideration with the following pros and cons of each: