Article list

The ATO determines whether a taxpayer has exceeded the transfer balance limit of $1.6m and if a taxpayer has exceeded the $1.6m limit, the ATO must issue an excess transfer balance determination (ETB determination) to the taxpayer. An ETB determination means the taxpayer has too much super in pension phase. The ETB determination will specify […]

Under the First Home Super Saver Scheme (FHSS Scheme), eligible super members who make voluntary superannuation contributions can subsequently withdraw those contributions (and associated earnings) from the super system in order to acquire their first home.  The withdrawn contributions and associated earnings is the FHSS release amount. While the FHSS release amount, when paid, will […]

The Government is proposing the introduction of new measures that will impact all Limited Recourse Borrowing Arrangements (LRBA), entered into or after 1 July 2018.  These measures, if enacted, will include a member’s share of any outstanding LRBA debt in the calculation of their total superannuation balance, which may have a flow-on effect on that […]

The Government has now moved to resolve the issue of reversionary TRISs, which has been dragging on since 1 July 2017 when the “Fair and Sustainable Superannuation” changes commenced. The reversionary TRIS issue is simply that when a reversionary pension transfers on the death of the primary pensioner, the pension is now a death benefit.  […]

Mr Shorten’s proposal announced this week that cash refunds of excess franking credits should be scrapped will have a greater proportionate adverse impact on a retiree with a $500,000 balance than a retiree with a $5m balance. If implemented, a retiree with only $500,000 in super will not be entitled to any franking credits (as the retiree […]