New Penalties For Non Compliance
ATO Videos
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SMSF – Arm’s Length
Arm’s Length means the Funds’ assets must be bought and sold at market value...
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SMSF Loans and Early Access
Super benefit can be accessed only when a Condition of Release is met. Early acc...
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SMSF Sole Purpose Test
Sole purpose of SMSF is to provide benefits to members when they retire – anyo...
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SMSF Investment Strategy
Every SMSF has to have an Investment strategy that should be reviewed regularly....
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SMSF annual obligations
You have obligations to complete before you can lodge the SMSF annual return. ...
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SMSF – Planning for Retirement
Plan a few years ahead of retirement so that your fund is ready to make super pa...
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SMSF – Retirement and conditions of release
Before you can access any of your super, you must meet a condition of release un...
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SMSF paying an income stream
Income stream is a pension, where payment occurs at least annually and in case o...
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Planning for the unexpected (relationship breakdown, incapacity, death)
When starting SMSF, you need to plan for the future, if a relationship breaks do...
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SMSF -- What\'s involved with an SMSF
Typical SMSF involves several stagesSet Up: Decide Trustees / member, establish ...
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SMSF – Setting up your SMSF
Key StepsYou can have up to 4 members – as individual trustees or a Company se...
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SMSF Trustees – individual or corporate
You need to decide the type of trustee - individual or company. Factors to be co...
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Trustee Declaration
The Trustees need to sign off a Declaration within 21 days of SMSF setup. It hig...
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SMSF – You can\'t do it all yourself
An SMSF gives you control over your super, but you still need to work with other...
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Super Stream for employers
New way for employers to make super contributions electronically, simplifies how...
Preservation Age
Preservation age is generally the age that you can access your super benefits. A person’s preservation age depends on their date of birth as set out below.
| Date of Birth | Preservation age (years) |
|---|---|
| Before 1 July 1960 | 55 |
| 1 July 1960 – 30 June 1961 | 56 |
| 1 July 1961 – 30 June 1962 | 57 |
| 1 July 1962 – 30 June 1963 | 58 |
| 1 July 1963 – 30 June 1964 | 59 |
| After 30 June 1964 | 60 |
Minimum Pension Rates
The minimum pension withdrawal rates are now back to normal after being reduced during the GFC. You minimum pension is based on your opening balance and your age.
| Age | Percentage of account balance |
|---|---|
| 2013-14 onwards | |
| Under 65 | 4% |
| 65-74 | 5% |
| 75-79 | 6% |
| 80-84 | 7% |
| 85-89 | 9% |
| 90-94 | 11% |
| 95 or more | 14% |
