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Administrative matters for SMSFs using Contribution Reserving Strategies

The use of the contributions reserving strategy in Self-Managed Super Funds is popular for managing contribution caps in situations where a member would like to contribute more into super in one year than in the next. Contributions received in June may be counted towards the member’s contribution cap in the following financial year by allocating […]

By |November 4th, 2014|Uncategorized|Comments Off on Administrative matters for SMSFs using Contribution Reserving Strategies

Time to consider changes to account-based pensions to optimise Age Pension entitlement

Should you be taking action before 1 January 2015 in order to take full advantage your age pension entitlement?

The value of Age Pension entitlements in providing financial support to individuals in retirement cannot be under-estimated. Even those who would consider themselves to be ‘wealthy’ may find that at some point in their retirement they would […]

By |October 22nd, 2014|Centrelink|Comments Off on Time to consider changes to account-based pensions to optimise Age Pension entitlement

Eligibility for the Age Pension

In order to be eligible for the Age Pension individuals must satisfy the residency requirements and be at an eligible age – and this varies depending on date of birth. For men born before 1 July 1952 that age is 65. For women born between 1 January 1949 and 30 June 1952, that age […]

By |October 22nd, 2014|Centrelink|Comments Off on Eligibility for the Age Pension

Potential benefits to couples that split concessional contributions

Spouse splitting may create opportunities to effectively transfer a portion of one spouse’s superannuation balance to the other spouse’s superannuation. Super contributions splitting generally allows one spouse to split up to 85% of concessional contributions with the other.

Here’s how it works:

The contribution must be contributed to the first spouse’s superannuation fund (15% contributions tax […]

By |August 20th, 2014|Contributions|Comments Off on Potential benefits to couples that split concessional contributions

Plan ahead to take advantage of the increase in contribution caps for the 2014/15 Financial Year

There are two significant benefits to planning contribution strategies early on in the new financial year:

1)      Where possible and appropriate, planning can ensure that contribution caps are fully utilised

2)      Ensuring that contributions are not left to the last minute, or worse still, neglected altogether.

Contribution caps are a ‘use it or lose it’ offering in […]

By |August 20th, 2014|Contributions|Comments Off on Plan ahead to take advantage of the increase in contribution caps for the 2014/15 Financial Year