Top Navigation

Categories | Pensions

feature-image-may15

How the Federal Budget 2018 will impact SMSFs

By Christian Pakpahan, Lawyer and Daniel Butler, Director, DBA Lawyers We outline below the key superannuation changes announced in the Federal Budget 2018 on 8 May 2018. Some of the proposed changes will have a substantial impact on SMSFs if they are finalised as law. Nomination of superannuation guarantee (‘SG’) for certain employees with multiple [read more]

SMSF compliance

SMSFs and transfer balance account reporting

William Fettes ([email protected]), Senior Associate and Daniel Butler ([email protected]), Director, DBA Lawyers This article summarises the transfer balance account report (‘TBAR’) reporting regime for SMSFs and offers some traps and tips. Overview Under TBAR, any transaction involving a retirement phase pension (ie, tax free pension interest such as an account-based pension or a transition to [read more]

sds

Check your market linked pension strategy!

By: Philippa Briglia, Lawyer and Daniel Butler, Director, DBA Lawyers The mid-2017 superannuation reforms have had a profound impact on market linked pensions (‘MLPs’). While most of the planning should have already been implemented, there is still some opportunity to review and potentially restructure clients with MLPs. We briefly examine below the treatment of an MLP [read more]

norightturn

The latest on TRISs: are you in retirement phase?

By William Fettes, Senior Associate, Daniel Butler, Director, DBA Lawyers The rules that govern when exempt income arises in relation to the earnings on assets supporting transition to retirement income streams (‘TRISs’) were substantially changed with effect from 1 July 2017. Advisers and SMSF trustees should be aware that there are now two types of [read more]

chess

Payments above ABP minimum — Reasons to prospectively document a strategy ASAP

 Joseph Cheung, Lawyer and  Bryce Figot, Special Counsel, DBA Lawyers  Payments above the account-based pension (‘ABP’) minimum annual payment have the potential to become a trap. The June 2017 SMSF Benchmark Report by Class Super states that ‘the average SMSF pensioner withdraws about $74,000 annually on their pension over a series of 12 transactions and [read more]

image-12

Reversionary transition to retirement income streams

William Fettes, Senior Associate, Daniel Butler, Director, DBA Lawyers The new rules that govern when a transition to retirement income stream (‘TRIS’) enters retirement phase give rise to a number of complex issues in the context of reversionary nominations and death. This article examines the retirement phase rules and reversionary TRISs in detail, based on [read more]

sloth

New APRA guidance confirms retirement for members who reach 60 and cease one of two jobs

By Daniel Butler, Director, DBA Lawyers, and David Oon, Senior Associate, DBA Lawyers Introduction The Australian Prudential Regulation Authority (‘APRA’) has just updated its Superannuation Prudential Practice Guide SPG 280 — Payment Standards (‘SPG’) in June 2017. Of interest in the SPG are APRA’s comments on the retirement definition in the Superannuation Industry (Supervision) Regulations 1994 [read more]

tris

The new age TRIS –– tips and traps

Daniel Butler, Director and David Oon, Senior Associate, DBA Lawyers The transition to retirement income stream (‘TRIS’) entered a new era on 1 July 2017 where most members will want their TRIS to enter retirement phase as soon as possible to gain access to an earnings tax exemption. A new law has provided a roadmap [read more]