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24/05/2021The 2021 Budget can be summarised in one line - as a great budget for superannuation. The Budget sets out major beneficial changes for superannuation covering both contributions, legacy superannuation products, first home super saver scheme and residency issues for SMSFs.
18/05/2021From 1 July 2021, if a non-arm's-length capital gain is made by a segregated current pension asset on or after 1 July 2021, it will be treated as non-arm's length income ("NALI"), meaning that it will be taxed at the highest marginal rate of 45% under section 295-550 of the Income Tax Assessment Act 1997 ("ITAA97").
27/04/2021The superannuation environment may offer great tax efficiency in passing a member's death benefits to their dependents, however there is a rider - the member will not have full control over how the benefits will be used by the beneficiary.
27/04/2021In this article we discuss whether it is possible to control the commutation of a child pension, without jeopardising the compliance and validity of said pension.