Can my client’s trading entity be the Trustee of their SMSF?
When your client already has an established company, it is natural to ask if that company can be...
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My client has an SMSF which owns property via an LRBA. The debt has now been paid back. Is it compulsory to transfer title to the property from the LRBA bare trust to the fund?
No, but it may still be appropriate to do so depending on the fund’s future intentions. ...
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My client has used a contribution reserving strategy in the 2018/19 financial year but he’s the sole member of his SMSF. Is such a strategy for him “above board”?
Historically the validity of contribution reserving strategies had been the subject of much debate,...
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My client makes superannuation contributions for its employees via the ATO’s Small Business Superannuation Clearing House. When are the contributions deductible to the employer?
When the clearing house receives the money? Or when the respective superannuation funds receive the...
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My client has excess concessional contributions and their Total Super Balance exceeds $1.6m. What happens now?
While the rules surrounding excess contributions have remained relatively stable for some time now,...
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100% pension fund with contributions - do I need an actuarial certificate?
In the new world of calculating exempt current pension income, if your 100% pension fund receives a...
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Why do pension payments now need to be paid in cash? I’m sure my clients used to be able to take in-specie pension payments.
Well, in fact pension payments have always needed to be paid in cash. Only lump sums can be taken...
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My client has been offered shares in his employer’s company as part of an employee share scheme
Under the scheme, the employee is able to take up the entitlement themselves or nominate an...
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If my client receives a lump sum from superannuation, will the lump sum be included in their “income” for Division 293 purposes?
Potentially, but this will depend on why your client is receiving the lump sum, their age, the...
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My client made a $25,000 concessional contribution to his SMSF in June which won’t be allocated to his member account until July.
When will the unallocated amount first count towards his Total Superannuation Balance? ...
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My client’s SMSF has a reserve account and the trustee made an allocation from it on 1 July 2017 to a pension account.
Given such action is now contrary to the ATO’s new position expressed in SMSF Regulator’s Bulletin...
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My client’s husband died in March 2018. On his death, his account based pension automatically reverted to her. When will the value of this pension count towards her Total Superannuation Balance?
Your client became the “owner” of the pension on the day of her husband’s passing. This means the...
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