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 | Blog, SMSF, SMSF Property, Superannuation
It is possible to use your superannuation to purchase land. Your super fund’s investment menu and investment strategy will determine how you can invest your super. For ordinary Industry Super funds or Public Offer fund, the investment menu is somewhat limited....
Sep 5, 2023 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
The Centrelink treatment of lump sum withdrawals from super is important to understand. There are a number of ways that lump sum withdrawals can be made from super and each way is assessed by Centrelink differently. Making one lump sum withdrawal from super has the...
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 4, 2023 | Blog, Death Benefits, Reversionary Pensions, SMSF, Superannuation, Superannuation Tax
A Non-Binding Death Benefit Nomination is a declaration made to the trustee of your super fund. A superannuation fund trustee is responsible for the management of your superannuation savings on your behalf. You are able to submit a nomination to the trustee detailing...
Sep 4, 2023 | Blog, SMSF, SMSF Property, Superannuation
You may have heard the about Self Managed Super Funds or SMSFs and how good they are. But do you really know the specifics of why they are good? And whether or not an SMSF can benefit you? It’s true that a Self Managed Superannuation Fund (SMSF) can provide a...
Sep 4, 2023 | Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
A grandfathered account based pension is an account based pension where the assessment of the pension income is calculated using the deductible amount method. The current assessment of a non-grandfathered account based pension for social security or aged care purposes...
Sep 4, 2023 | Blog, Death Benefits, SMSF, Superannuation
Through the use of a superannuation nomination form, an individual has the ability to nominate which of their beneficiaries will receive their superannuation or pension balance in the event of their own death. A superannuation nomination can be Binding or Non-Binding....
Sep 3, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, SMSF, Superannuation
Prior to the significant superannuation reforms ‘simpler super’ in 2007, Allocated Pensions were the most common form of retirement income streams for retirees. Account Based Pensions came into existence as a result of the ‘simpler super’...
Sep 3, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, SMSF, Superannuation
Are you considering borrowing against your super? What does borrowing against your super mean and how does it work? If you want to borrow against your super, it means that you want to use your super as security for a loan. You are effectively saying to a bank or...