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FAQ
FAQs topics:
Binding Death Benefit Nominations
- What is a BDBN?
- Who can be nominated in a BDBN?
- What are the technical requirements for a valid BDBN?
- How long can a BDBN remain in force?
- Do the same BDBN rules govern SMSFs?
- What level of detail can a BDBN contain?
- What are some of the advantages of a BDBN?
- What are some of the disadvantages of a BDBN?
- When might a BDBN be appropriate?
- Can all super fund members make a BDBN?
- Can the holder of an enduring power of attorney make a BDBN?
- Is a death benefit nomination binding if it nominates someone that it shouldn’t?
- Will a BDBN override reversionary pension documentation?
- Can a death benefit paid in accordance with a BDBN be clawed back?
SMSF Borrowing
- Who are the parties to the Loan?
- Who can lend money to the Super Fund?
- What type of Assets can the Fund purchase via a Complying SMSF loan?
- What are the limitations in acquiring Real Property via a Complying SMSF Loan?
- Can capital improvements and associated expenses be included in the borrowing arrangement?
- What are the limitations of acquiring listed securities, Units and commodities via a borrowing arrangement?
- Can an Asset in a borrowing arrangement be replaced with another asset?
- What is the procedure to commence a SMSF Loan?
- Who signs the contract of sale?
- What about double stamp duty?
- What about CGT?
- What about personal guarantees?
- Can a limited recourse borrowing arrangement be refinanced?
- Which entity registers for GST?
- Can the Bare Trust have a bank account?
SMSF Deeds
- Who can be a member?
- How does someone become a member?
- When does membership cease?
- Who can be trustee?
- How is a trustee appointed or removed?
- What kinds of contributions can be made?
- Can the trustee enter into an instalment warrant-type borrowing arrangement?
- Can the trustee establish and maintain investment reserves?
- What kinds of benefits can be paid?
- Can pension assets be segregated?
- Can members make binding death benefit nominations?
- Can super interests be divided on marriage breakdown?
- Will benefits be available to creditors on bankruptcy?
- When should an SMSF deed be updated?
- How do you update an SMSF deed?
SMSF Pensions
- What types of pensions are there?
- What are the characteristics of an Account-Based Pension (ABP)?
- What are the benefits of commencing an Account-Based Pension?
- What are the benefits of commencing an Account-Based Pension?
- Are there any benefits in salary sacrificing into the SMSF and also commencing a pension?
- How do Allocated Pensions (APs) differ from Account-Based Pensions?
- Can an existing pension be converted to another kind of pension?
- Should you convert from an Allocated Pension to an Account-Based Pension?
- How do Transition to Retirement Income Streams (TRISs) differ from Account-Based Pensions?
- How do Market Linked Pensions differ from Account-Based Pensions?
- What are the benefits of commencing a Market Linked Pension?
- Who is able to commence a pension?
- Who can commence a Transition to Retirement Income Stream?
- Who can be a reversionary beneficiary for a pension?
- How are Account-Based Pension payments calculated?
- How are Allocated Pension payments calculated?
- How are Transition to Retirement Income Stream payments calculated?
- How are Market Linked Pension payments calculated?
- What documentation is required to commence a pension?
- What ongoing administration is required for Pensions?
- Can I make contributions into a pension account?
- How are pensions treated by Centerlink?
- How are pension payments taxed?