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Showing 21 - 30 of 49 results for "Transfer Balance Cap"

Beware downsizer downsides

JAMIE WILLIAMSON  |  WEDNESDAY, 7 MAR 2018
... contribution. The client's transfer account balance will need to be considered. If their balance is approaching their transfer balance cap, they will be restricted in how much of their downsizer contribution can be used to start an income stream," he ...

Contribution cap reforms see SMSFs spend cash

JAMIE WILLIAMSON  |  TUESDAY, 27 FEB 2018
... payments as trustees implement lump sum withdrawal strategies to help stay under the $1.6 million pension transfer balance cap." The survey looks at about 2670 funds, a sample of SMSFs SuperConcepts administers and the investments they held at 31 December ...

ATO closely monitoring SMSF balance caps

KARREN VERGARA  |  MONDAY, 19 FEB 2018
The ATO is closely monitoring self-managed super funds (SMSF) that breach the transfer balance cap and has already issued several alerts to members close to breaching the cap. ATO deputy commissioner for superannuation James O'Halloran told the 2018 ...

SMSFs grappling with super changes

KARREN VERGARA  |  FRIDAY, 12 JAN 2018
... death benefits. Death benefits, which are a complex issue, have been made even more complex and while the transfer balance cap, total superannuation balances and SMSF event-based reporting are new concepts, advisers and members are trying to figure them ...

ATO affirms SMSF event-based reporting rules

KARREN VERGARA  |  FRIDAY, 10 NOV 2017
... that in all cases, reporting is only required if an event impacts or potentially breaches the $1.6 million transfer balance cap actually occurs. "As a result of this approach it is estimated that up to 85% of the SMSF population will not be required ...

SMSF balance gap to close: Report

KARREN VERGARA  |  THURSDAY, 2 NOV 2017
... Report. Members are using contribution splitting strategies to rebalance and remain within the $1.6 million transfer balance cap. About 29% of two member funds may need to rebalance to remain within the cap. When it comes to asset allocation preferences ...

Transfer balance cap reforms could hurt grieving SMSFs

JAMIE WILLIAMSON  |  MONDAY, 30 OCT 2017
... SMSF Association is urging self-managed superannuation fund members to seek financial advice as to how the transfer balance cap may impact their pension in the event of their spouse's death. SMSFA head of technical Peter Hogan said under the new superannuation ...

Why advisers should revisit death benefits

KARREN VERGARA  |  FRIDAY, 6 OCT 2017
... it's time for advisers to revisit the rules regarding death and disability benefits in conjunction with the transfer balance cap in estate planning strategies. According to IOOF head of technical services Martin Breckon, the changes around death benefits ...

More time needed for TBAR transition: SMSFA

JAMIE WILLIAMSON  |  MONDAY, 25 SEP 2017
... new Transfer Balance Account Report requirements, echoing member sentiment. In its submission to the ATO's Transfer Balance Cap and SMSF 'Event-Based' Reporting Position Paper, the association outlined its support for 'option 2' - meaning that from 1 ...

SMSFA supports quarterly reporting proposal

EMMA RAPAPORT  |  TUESDAY, 22 AUG 2017
... Office's decision to offer a quarterly option as part of a position paper on event-based reporting for the transfer balance cap has been endorsed by the SMSF Association. SMSF Association (SMSFA) chief executive John Maroney says event-based reporting ...