Oct 2, 2023 | Blog, Contributing to Super, SMSF, Superannuation, Superannuation Tax
Can I put redundancy into super? This is a good question and important to understand. Making contributions to superannuation can provide you with tax concessions and may result in you effectively paying less tax on your redundancy payment. Rolling a redundancy payment...
Sep 10, 2023 | Accessing Superannuation, Blog, Insurance in Super, SMSF, Superannuation, Superannuation Tax
This article explores whether TPD insurance is tax deductible within a SMSF. TPD stands for Total and Permanent Disability. In certain circumstances, the premiums for TPD insurance can be a tax deductible expense to an SMSF. TPD is an insurance that can be owned...
Sep 9, 2023 | Accessing Superannuation, Blog, Death Benefits, Superannuation, Superannuation Tax
This superannuation death benefit calculator is designed to help you calculate the death benefit payable to each beneficiary and the tax payable by the recipients. A superannuation death benefit is a payment made to from a superannuation account to the beneficiary of...
Sep 8, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
There are a few disadvantages associated with Transition to Retirement income streams that one should be aware of prior to implementing such a strategy. A superannuation Transition to Retirement (TTR) income stream pension is commenced using some or all of your...
Sep 7, 2023 | Blog, Centrelink, Death Benefits, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
A pension refresh strategy involves commuting an existing pension and commencing a new pension to include contributions accumulated since the original pension was initially established. Starting a superannuation pension does not prohibit a person from continuing to...
Sep 7, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
A transition to retirement allocated pension is a type of superannuation income stream. Some or all of a member’s superannuation accumulation balance can be used to start a transition to retirement allocated pension. A transition to retirement pension is...
Sep 6, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
The transition to retirement rules relate to transition to retirement income streams (TRIS), commonly referred to as Transition to Retirement (TTR) Pensions. Traditionally, people would work up until a certain age, then retire and begin drawing an income stream from...
Sep 5, 2023 | Blog, Superannuation, Superannuation Tax
Are life insurance premiums tax deductible in super? Life insurances can be owned in your own name or within superannuation. Some insurances are owned partly by you and partly by your superannuation fund. The term life insurances is a collective term for death cover,...
Sep 5, 2023 | Blog, Featured, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
The superannuation Tax Free component (aka tax-exempt component) is made up of all after-tax contributions made to superannuation (i.e. Non-Concessional Contributions). A superannuation balance will consist of two main tax components: the Tax Free component and the...
Sep 5, 2023 | Blog, Death Benefits, Retirement Income Streams, Reversionary Pensions, Superannuation, Superannuation Tax
The tax on superannuation death benefits varies depending on the recipient of the benefits, the components that make up the benefit and the for in which the benefit is paid. Tax on superannuation death benefits can be quite considerable and have a significant impact...