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Showing 21 - 30 of 59 results for "Transfer Balance Cap"

SMSFA slams limited licensing

HARRISON WORLEY  |  THURSDAY, 9 JAN 2020
... tax agents (typically accountants) are able to access its portal to get total superannuation balance and transfer balance cap information that is crucial for SMSF advice," Maroney added. "Ironically, these individuals are generally not able to provide ...

Downsizer contributions skyrocket

KARREN VERGARA  |  TUESDAY, 9 JUL 2019
... even if the member has a total super balance greater than $1.6 million. However, it is counted towards the transfer balance cap of $1.6 million, which applies when the member moves their super savings into retirement phase. It is not exempt from the ...

Super, life risk face election test

HARRISON WORLEY  |  MONDAY, 6 MAY 2019
... clients who now plans to leave the country after losing about $800,000 in 2017 as a result of the $1.6 million transfer balance cap reform. "He's going to make himself a non-resident," he says. However, not all have derided the opposition. In September ...

Government consults on super legislation

HARRISON WORLEY  |  TUESDAY, 5 MAR 2019
... the Government has proposed draft regulations to fix the valuation of defined benefit pensions under the transfer balance cap to reflect when pensions are permanently reduced following an initial higher payment. The draft regulations would also change ...

Knowledge, action gap puts SMSF savings at risk: Research

JAMIE WILLIAMSON  |  MONDAY, 19 NOV 2018
... investors see themselves facing is regulatory uncertainty. "The imposition last year of the $1.6 million transfer balance cap once again moved the superannuation goal posts and the recently proposed changes by the Australian Labor Party to remove franking ...

Treasury delays CIPR timetable

KARREN VERGARA  |  WEDNESDAY, 31 OCT 2018
... fair and effective. The first is fixing an error in the way that market-linked pensions are valued under the transfer balance cap when they are commuted or rolled over, resulting in a nil debit. He said: "This nil debit is an issue because it doesn't ...

Government to relax super work test

KARREN VERGARA  |  WEDNESDAY, 3 OCT 2018
The Federal Government is aiming to boost the superannuation balances of retirees by relaxing the super contributions work test for one year. To be able to make voluntary contributions to super, members aged 65 to 74 are generally required to work a ...

Don't use multiple SMSFs to dodge tax: ATO

KANIKA SOOD  |  FRIDAY, 21 SEP 2018
... will closely scrutinise cases of tax manipulation with multiple SMSFs, given the recent introduction of the transfer balance cap (TBC), and disregarded small fund assets provisions. "I raise this matter because while the establishment of multiple SMSFs ...

SMSFs investing restrictions unfair: Poll

KARREN VERGARA  |  MONDAY, 16 APR 2018
... SMSF members think twice about taking on a LRBA to invest in property, as it may trigger the $1.6 million transfer balance cap in retirement. One month later, financial advisers said they were grappling with the regulatory changes to LRBAs. According ...

Focus on tax outcomes to drive up member returns: Parametric

ALEX BURKE  |  TUESDAY, 3 APR 2018
... of 15% contributions tax and all member account balances in the pension phase are under the $1.6 million transfer balance cap. It also assumes that the fund has 100% of its capital allocated to a pre-tax focused equity pool for the entire period. All ...