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Search ResultsShowing 1 - 10 of 42 results for "Transfer Balance Cap"
Legacy pensions score win
KARREN VERGARA  |  WEDNESDAY, 13 JAN 2021
... last December. Retirees with legacy products, who were previously unable to commute amounts exceeding their transfer balance cap, will be able to undertake a partial commutation. "It also ensures appropriate tax outcomes for these retirees given their ...
APRA funds can learn from SMSFs: Rice Warner
ELIZA BAVIN  |  FRIDAY, 10 JUL 2020
... needed to take future contributions from any ongoing part-time work, or to hold assets exceeding the Pension Transfer Balance cap. "This contrasts to APRA funds where the partners are usually not in the same fund, and where their accounts cannot be linked ...
ATO warns against SMSF property development
ELIZA BAVIN  |  WEDNESDAY, 10 JUN 2020
... for example, by deliberately undervaluing an asset when it enters retirement phase and counts towards the transfer balance cap, allowing a greater amount of earnings within the SMSF to be treated as exempt current pension income," it said. "We have previously ...
What advisers need to know: BT
ELIZABETH MCARTHUR  |  THURSDAY, 4 JUN 2020
BT head of financial literacy and advocacy Bryan Ashenden has observed a significant increase in calls for technical support from financial advisers during the COVID-19 pandemic. "The level of queries and questions we were getting through from advisers ...
SMSFs expected to outperform: Research
ELIZA BAVIN  |  MONDAY, 23 MAR 2020
... only make up 9% of all superannuation members in Australia. The research pointed to the introduction of the Transfer Balance Cap (TBC) in 2017 as a key cause for the reduction. Following its introduction retirees with large balances, many of whom were ...
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 ...
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 ...
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