Can a member still bring forward their non-concessional cap?

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The introduction of the new $1.6M cap has changed the game for members wanting to make contributions in advance – so-called ‘bring forward’ contributions. The legislation not only introduces eligibility requirements, it also requires members to meet further criteria at the beginning of each year making up their bring forward period before being able to […]

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What is the pension transfer balance cap and how does it operate?  

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In late September, the government released the second tranche of proposed superannuation changes, which covers the pension transfer balance cap, concessional contribution changes, catch up concessional contributions and the removal of the earnings tax exemption for transition to retirement pensions.  This article will focus on issues surrounding the pension transfer cap. What is the pension […]

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The Dos and Don’ts of running an SMSF – How to deal with the ATO

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To err is human and it is the ATO’s job to make sure trustees understand when they have done something wrong and why it happened. So while trustees may get nervous knowing the regulator is coming to knock on their door, here’s a list of ‘do’s and don’ts’ to help in dealing efficiently with the […]

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Battle of the giants: binding death benefit nomination vs reversionary pension

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Binding death benefit nominations and reversionary pensions are two means available to members of an SMSF to select who is to receive their death benefit. But what happens if a member uses both but they clash? Case Study: Kate and John are the members of the Kate & John Family Superannuation Fund. At the time […]

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Legislative changes to Victorian Enduring Power of Attorney

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Thinking of making an enduring power of attorney? Be aware that there has been some recent changes to the law for enduring powers of attorney made in Victoria since 1 September 2015. Nothing needs to be done in relation to existing enduring powers of attorney as these are grandfathered under the new legislation and remain […]

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