March 2017 Newsletter

HELPFUL APP TO TRACK YOUR DEUDCTIONS

The ATO now has an app which will be very helpful in tracking the deductions that you are able to claim against your tax. It is available from both the Apple and Android stores. The app is packed with lots of features, click here to see a summary of them. The ATO app is free so head to the app store and test it yourself.

ACCESSING YOUR SUPER – SPECIAL CIRCUMSTANCES

SMSFs have strict rules on when super monies can be withdrawn from the fund, most commonly when a member satisfies a form of retirement. However, special conditions apply should a member be diagnosed with a terminal illness who are looking to access their super benefits. Our article outlines the possibilities available to you should you be diagnosed with a terminal illness. If you think that you may fall into one of these categories, please contact your client manager to discuss further.

SUPER CHANGES FROM 1 JULY 2017 PART 3 – INTERACTION OF THE $1.6M PENSION TRANSFER CAP AND DEATH BENEFITS PAYMENTS

Over the last 3 months we have been giving you a detailed report on the superannuation changes that will be effective come 1 July 2017. In this article we will look into the different examples of reversionary pensions vs non-reversionary pensions. These changes not only effect those receiving pensions from their SMSF, but also impacts members upon death and estate planning. Superannuation is an important topic and with so many changes due in a few months, we suggest that you contact your client manager to discuss any concerns or if you have any questions.

USING FAMILY TRUSTS TO STREAM TO SAVE TAX – PART 1

Family trusts can be a very effective vehicle for tax planning. A family trust does not pay income tax or capital gains tax. Instead, the income and/or capital gains earned by a family trust have to be distributed to a beneficiary, who pays the tax. If you have a family trust or wish to discuss setting up a family trust for distribution streaming then please contact our office and we will assist you. For more information on this, please click here to read the full article.

THE S&W CREW

At Stanley & Williamson we have a team of around 25 people. We are fairly sure that you won’t know everyone, so we’d like to continue introducing some of them to you.

Name: Sarah Cleave Position: Admin Assistant Has been with us for: Nearly 5 years

Loves: Animals and spending time with family Loathes: Taking selfies, Birds and lifts Is passionate about: Animals