Do I really need to update my fund’s trust deed?

Current as of 29 April 2021 Your superannuation trust deed along with the superannuation laws, form the governing rules that self-managed super funds (SMSFs) need to operate by. The introduction of the $1.6 million transfer balance cap (TBC) back on 1 July 2017 and new transition to retirement income stream (TRIS) rules were a ‘game changer’ for SMSFs when discussing … Read More

July 2016 Newsletter

          Current as of July 2016 [vc_row][vc_column width=”/3″] INTRODUCING OUR NEW SMART PHONE APP Our brand new Accounting and Tax app is live and ready to download on your smart phone. It has a series of tools to keep you organised throughout the year, some helpful calculators to assist you with your finances, up-to-date finance news, … Read More

2016 Superannuation year end planning

Current as of June 2016   With the end of another financial year looming, now is the time to review the last minute strategies to make sure that you are maximising your contributions and managing your pension payment limits correctly. FOLLOWING ARE SOME TIPS TO HELP YOU MAXIMISE YOUR CONTRIBUTIONS The 2016 Federal Budget announced an immediate introduction of a … Read More

Starting an SMSF after 1 July 2016 will now cost you more

Current as of June 2016   As highlighted in our March Newsletter, from 1 July 2016, accountants will no longer be able to give clients advice on Self Managed Superannuation Funds (SMSFs) unless they are registered as an Australian Financial Securities Licensee (AFS Licensed Accountant). At Stanley & Williamson we are registered, and will continue to be registered to provide SMSF advice to … Read More

Consider your Supperannuation before the 03 May Budget and 30 June 2016

Current as of April 2016   The 2016 Federal Budget is less than one month away, with several potential policy changes including the possible end to Transition to Retirement Pension arrangements and reductions to the concessional and non-concessional contribution caps. Now is the time to review your SMSF and see what opportunities can be implemented. We’ve pulled together the following … Read More

Is your Death Benefit Nomination worded correctly? – Now is the time to check

Current as of January 2016   After your family home, your superannuation is most likely the next largest asset. Do you know what will happen to your superannuation upon your death? Will it automatically get paid to your Estate? No. Death benefits are not automatically paid to your Estate. They are paid in accordance with the fund’s rules and by … Read More

Pension payments – am I taking enough? Can I withdraw more?

Current as of December 2015   As we approach the end of 2015, it is a good time to check whether you are on track to meet your pension obligations for the 2015/16 financial year. Account Based Pensions (ABP) – Minimum annual payment percentages ABPs have a minimum pension payment which must be paid each year and care must be … Read More

October 2015 Newsletter

          Current as of November 2015 [vc_row][vc_column width=”2/3″] WHY YOU NEED A GOOD BOOKKEEPER Having a bookkeeper to do your normal bookkeeping is one thing, but having a good bookkeeper can really help improve your financial accounts and provide you with many other benefits. Our article covers a full list of services that a good bookkeeper … Read More

SHOULD I DO A DEATH BENEFIT NOMINATION (DBN)?

Current as of July 2015   What is a DBN? A DBN instructs the Trustee of your self managed super fund (SMSF) or corporate superfund how to pay your super benefits in the event of your death. Who can I nominate? Only your dependants are eligible: your current spouse (including de facto and same sex) your children (including step, adopted … Read More

LIFE INSURANCE HELD BY AN SMSF FOR A BUY-SELL AGREEMENT

Current as of June 2015 It is a very common practice for a self-managed superannuation fund (SMSF) to purchase a life insurance policy where the purchase is pursuant to a business buy-sell agreement the member has entered into with their business partners. However, the Tax Office has stated that they believe this common practice is now a breach of the … Read More