Lump Sum vs Pension

Written by Hein Preller Posted in SMSF Rules, SMSF Topics

Introduction Once members in an SMSF reach the preservation age, currently 55, or satisfy the Conditions of Release, they are able to receive benefits from the fund. That is, you can transfer money from your accumulation account to the pension account. Benefits may be paid from the pension account as: one or more Lump Sums, […]

Superannuation Guarantee Contributions

Written by Hein Preller Posted in News, SMSF Topics

Reduction in Superannuation Guarantee (SG) rates As the abolition of the Mineral Resources Rent Tax was unsuccessful, the rate for SG will be frozen at 9.50% for four years instead of two, starting from 2014/2015 Financial Year. After the 2017/2018 Financial Year, the SG rate will increase 0.5% every year and reach 12% at the […]

2014 – 2015 Federal Budget

Written by Hein Preller Posted in SMSF Topics

There were limited changes for SMSF’s in the 2014 -2015 Budget. A summary of what is relevant for SMSF in this budget is noted below: No excess contribution tax for non-concessional contribution From 1 July 2013, individual who makes excess a non-concessional contribution now has an option to withdrawn the excess amount together with any […]

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