Why you need a succession plan for your SMSF
The trustee of your SMSF is all-powerful. The trustee decides how much money you can put in the fund, who else can join, how your money is invested, how much gets paid out to you and when, and finally who gets what’s left over when you die. So how do you ensure the trustee of your fund continues to do the right thing when you can no longer be involved? There are a number of strategies you need to have in place
Transferring an asset from a super fund to a member – no stamp duty in SA
In South Australia stamp duty is not payable on a transfer of real property from a trustee of a trust to a person who already has a defined beneficial interest in the property. For example, a transfer of property from the trustee of a unit trust to the unit holder. But there are a couple of tricks you need to be aware of.
What is the superannuation transfer balance cap and why should you care?
Everyone gets a $1.6 million cap on the assets that can support a tax-free super pension. You and your spouse each get a separate cap. But super pensions that pass to you from your spouse when they die may put you over your cap. This will have adverse tax outcomes. You need to plan for this as part of your estate planning.
Some less obvious observations about the 1 July super changes…
As most people now know, from 1 July 2017 the amount a super fund member can have in a pension account will be capped at $1.6 million. There has been a lot of general commentary on these changes, but little deeper analysis of the details.
Can you keep your SMSF if you become non-resident?
What happens to my SMSF if I become a non-resident?
Essential things you need to know about SMSFs with only 1 member
This briefing note discusses your options for appointing a trustee for your self-managed super fund, and what happens if you lose mental capacity, die, or leave the country.
Getting creative with your super nominations
Super nominations do not need to be as boring (and perhaps as inappropriate) as “I nominate my spouse to receive 100% of my super”. Set out below are 7 ways to get creative – and more effective – with your super nominations.
How to keep control of your superannuation
If you are like most Australians, more and more of your family wealth is ending up in Super. Read about the 6 key things you need to know to ensure you keep control of this important asset.
SMSF – Individual or company trustee?
We often get asked whether it is better to have a ‘company trustee’ or ‘individual trustees’ for a self-managed super fund. This question gets asked both when we are setting up a new super fund, and when we are reviewing an existing super fund.
Superannuation planning: minimise tax, protect wealth, secure your family’s future
Superannuation is now an important part of all wealth-building and retirement strategies. We discuss the key issues that you should consider when setting up your superannuation strategy to make sure you and your family get the full benefit that superannuation can offer.