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
This article discusses transition to retirement pensions for people over age 65. It explains why individuals over age 65 will never have a transition to retirement (TTR) pension. A transition to retirement pension provides access to superannuation for people who have...
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...
Sep 4, 2023 | Blog, Superannuation, Superannuation Tax
Is Life Insurance Tax Deductible in Super? Firstly, let’s address what we define life insurance to be, so that we are on the same page in regards to its tax deductible status. On that note, we should also cover off on what we are proposing to claim a tax...