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Mike McHenry
In order to support the introduction of the $1.6 transfer balance cap (TBC) from 1 July 2017, the ATO has announced new reporting obligations for SMSFs. From 1 July 2018, any SMSF that has a member’s balance with $1 million or more will be required to report events impacting a member’s transfer balance account (TBA) within 28 days after the end of… (Show more)
Mike McHenry
A question we come across from time to time, the answer to which depends on the specific details in the pension documents. A pension will cease upon the death of a member, however this does not necessarily mean that pension minimums will not need to be met. WHERE A PENSIONER DIES, IS THERE A NEED TO MAKE A MINIMUM PENSION PAYMENT TO THE… (Show more)
Mike McHenry
With the super reforms and transfer balance caps now in place, consideration for SMSF’s and the planning and structure of members accounts is now at its utmost importance. In our blog CGT Relief, the ability to utilise CGT relief can alter the structure of a fund and where an actuarial certificate is required to calculate the exempt current… (Show more)