More than one million Australians control their own superannuation investments through a self-managed super fund (SMSF), managing over a quarter of Australia’s $3.3 trillion asset pool. If you’re considering joining them, it’s important to first understand what you hope to get out of it.
Read MoreA very interesting (and surprising) Private Binding Ruling has been recently released by the ATO (reference details at the foot of the article). In short, because a trustee (of a self-managed superannuation fund) took over 28 weeks to pay a commutation lump sum, the benefit was considered to be a death benefit and not a member benefit.
Read MoreSuperannuation is a tax advantaged way of saving for retirement and makes up two of the three “pillars” of the Government’s retirement income policy. The three pillars are:
Read MoreThe superannuation environment may offer great tax efficiency in passing a member’s death benefits to their dependents, however there is a rider - the member will not have full control over how the benefits will be used by the beneficiary.
Read MoreWhen Family Court orders are finalised, the parties might think that it’s all over, but when it comes to super-splitting there’s considerably more to do.
Read MoreSo you want to give your super death benefit to someone who is not your spouse, child or financial dependent? Perhaps it’s your neighbour’s son?
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