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Topdocs

Tech Talk Articles Posted by Topdocs

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Superannuation income streams: When can, or must, a valid automatic reversion be put in place?

Executive Summary Following the release by the Australian Taxation Office (ATO) of its draft Taxation Ruling TR 2011/D3 ‘Income tax: when a superannuation income stream commences and ceases’, on 13 July 2011, a greater focus has been placed on th...

Concessional Contributions Be careful with the timing

Executive Summary We know that employers have until 28 July to pay contributions for the June quarter, and we also know that the ATO has indicated a willingness to reallocate contributions to an earlier (or later) year, as one of the few ‘special c...

SMSF Corporate Trustees and underage Members

Executive Summary Arising from what was an apparent drafting oversight back in 1999, the rules which require that members of a SMSF also be the trustees of the fund (member/trustee rules) under the SIS Act would not be met when: the trustee of a SMSF...

ATO’s SMSF Borrowing Arrangments – Q & A updated

Executive Summary On 2 April 2012, the ATO released an updated version of its SMSF Borrowings Q & A titled ‘Limited recourse borrowing arrangements by self-managed super funds - questions and answers’, the first update since July 2010. The la...

Tax and Estate Planning for SMSF Income Streams

  • Tech Talk Article
  • By Topdocs
  • 28th February, 2012
  • SMSF
“I am not worried about the tax on my super benefits when I am gone - my children will need to worry about that.” Have you ever had a client make a similar statement when you were suggesting strategies to reduce tax payable on the death of the SM...

SMSF Income Streams - Priority of cashing of benefits & other options

  • Tech Talk Article
  • By Topdocs
  • 28th February, 2012
  • SMSF
Tax and Estate Planning for SMSF Income Streams - Case Study 1 - Priority of cashing of benefits & other options Bryce has turned age 55 and has decided to commence a Transition to Retirement Income Stream. He has a balance of $400,000 in th...

SMSF Income Streams - Reversionary Pensions & Estate Planning

  • Tech Talk Article
  • By Topdocs
  • 28th February, 2012
  • SMSF
Tax and Estate Planning for SMSF Income Streams - Case Study 2 - Reversionary Pensions & Estate Planning Joe is a single parent who has recently turned 60 years of age. He has 2 adult children, Peter & Claire, from his first relationship, bot...

Child Account Based Pensions & Testamentary Trusts

Understanding the range of options available in proper estate planning is vital to ensuring that the client's needs are met. In this article, the advantages and disadvantages of considering either superannuation child account based pensions or using the Will to create testamentary trusts are considered.

Income tax deductions for superannuation funds - Total and Permanent Disability (TPD) premiums

In December 2011, the ATO released a Draft Taxation Ruling TR 2011/D6, titled Income tax: deductibility under subsection 295-465(1) of the Income Tax Assessment Act 1997 of premiums paid by a complying superannuation fund for an insurance policy prov...

Refund of Excess Concessional Contributions Draft Legislation

In the 2011 Federal Budget, the Government announced it would legislate to allow the refund of excess concessional contributions in specific instances. In December 2011, the Government released draft legislation to allow the announcement to be made l...
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