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Colin Lewis

January

The increase means you may be able to get more money into the tax-free environment from July 1.

Tax-free super cap for retirement phase set to reach $2 million

To benefit from the indexation increase, you need to delay starting the pension until July 1.

Technological developments are boosting the ability of investors to get easier access to information about their nest eggs.

How to put a rocket under your super balance in 2025

The stage three tax cuts may give you a little extra to contribute to super this year. These are your options.

December 2024

Now is a good time to consider the methodology for calculating your fund’s exempt current pension income (ECPI).

SMSFs that do this check each year could end up paying less tax

To get optimal results, choose carefully which method your SMSF uses to calculate tax-free pension amounts.

November 2024

Division 293 tax applies to those who had income together with pre-tax concessional contributions greater than $250,000 in 2023-24.

Be on the lookout for the super surcharge for high earners

If you receive a Division 293 tax assessment from the ATO, you must pay the bill within 21 days to avoid penalties.

October 2024

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How your kids could help you avoid this super death benefits catch

The transfer balance cap also applies to pensions received on death and this is where it may catch you out.

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September 2024

With a reversionary pension, the beneficiary has peace of mind knowing they’ll continue receiving income into their bank account.

What happens to your super after you die comes down to this choice

Your money can go to your beneficiary either as a regular pension payment or as a lump sum death benefit.

August 2024

Sticking with a disciplined contributions strategy is compelling,  even when markets are moving against you.

Why superannuation is the ultimate antidote to market slumps

The tax benefits of superannuation are so great it’s difficult to lose money.

July 2024

Spending a few hours on this now will make you richer later

Work through these 11 steps to grow your superannuation faster.

June 2024

Did you gain stocks through an employee share plan? There are some issues to consider to reduce the tax bill.

How to cut tax if you have an employee share plan

Don’t assume the taxman won’t come knocking – this is how it works and what you can do to soften the blow.

April 2024

Natural diamonds, including pink diamonds, held in loose form are not considered collectable or personal use assets under super law, and thus do not have specific storage and insurance requirements.

The rule book on investing in cars, wine or diamonds

Because they’re classified as collectable or personal use assets, strict rules apply to their acquisition, storage, insurance and use if held by an SMSF.

You must meet a “condition of release” before accessing super.

What SMSFs need to know as ATO cracks down on illegal access to super

More than $630 million has been accessed illegally from SMSFs. Here’s what you need to know to stay on the right side of the law.

February 2024

Indexation means the concessional contributions cap is being lifted from $27,500 to $30,000.

How to take advantage of higher superannuation contribution caps

If you make voluntary pre-tax contributions, the increased cap may mean a bigger deduction and tax saving.

Where you claim a small business CGT concession and contribute to super, you must provide your fund with an ATO-approved CGT cap election form no later than when the contribution is made.

Three ‘tricks’ to get $2m into your super in a year

Maximising contributions after selling a small business can add $2,062,500 to your retirement savings.

January 2024

This super catch-up contribution can help you avoid a big tax bill

It’s one of about eight key retirement saving opportunities – but don’t leave it to June 30.

December 2023

Some taxpayers will soon get notices from the Australian Tax Office because the October 31 due date for lodging personal income tax returns has passed.

How to respond if the ATO contacts you about super contributions

It should be easy but many taxpayers are befuddled by the process of making personal deductible contributions to super.

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November 2023

What you’ll owe under new super tax if your balance hits $3.5m

There are nine key takeouts on how it will work, plus how to plan ahead to minimise the impact.

September 2023

Ten ways you can get the most out of your retirement income

An account-based pension is used by most retirees. This is what you need to know before starting one.

August 2023

Get it wrong and the potential consequences range from monetary penalties to prison.

How to access your super early when times are tough

Early release of super is possible only in limited circumstances, such as severe financial hardship and compassionate grounds.

July 2023

What are franking credits, and who benefits from them?

Here’s how to turbocharge your super this financial year

Salary sacrificing, sharing with a spouse and a downsizer bonus among the strategies you can use to maximise super.

June 2023

If your spouse earns less than $37,000 and you contribute up to $3,000 to their super fund, you can claim an 18 per cent tax offset – a benefit of up to $540.

What you need to know before topping up super ahead of June 30

If you want to make a last-minute contribution to get a bigger deduction and tax saving, you’d better snap to it. This is what to do.

Original URL: https://www.afr.com/by/colin-lewis-p4yvmq