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Showing 41 - 50 of 65 results for "Transfer Balance Cap"

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 ...

Contribution caps cause SMSF cash surge

ALEX BURKE  |  THURSDAY, 17 AUG 2017
... and strategic solutions Phil La Greca said. "Benefit payment levels continued to climb as a result of the transfer balance cap of $1.6 million which restricts the amount a person may have in a pension phase. "Members implemented withdraw and re-contribution ...

Advisers searching for LRBA answers

ALEX BURKE  |  WEDNESDAY, 2 AUG 2017
... stage only." The second-most common issue, Howard said, related to the relationship between LRBAs and the transfer balance cap, where self-managed super fund clients "would need to record a credit against their transfer balance account where an LRBA ...

Super tax reforms take effect

KARREN VERGARA  |  FRIDAY, 16 JUN 2017
... settlement or personal injury order will no longer have to pay tax on their superannuation income streams. The new transfer balance cap rules also support repayments made under a Limited Recourse Borrowing Arrangement in certain circumstances. "As part ...

Review life insurance ahead of super reforms: BT

KARREN VERGARA  |  TUESDAY, 6 JUN 2017
... superannuation. Keeping in mind concessional and non-concessional contribution limits are reducing, and a transfer balance cap will be introduced, it'll be harder to maintain retirement savings plans - in conjunction with funding insurance inside super ...