This Month
I’m 71 with $253,000 in super. How can I boost my balance quickly?
Here’s how downsizers can immediately add $300,000 to their retirement savings.
Couples can do the ‘switcheroo’ to increase age pension payments
There are ways couples can rearrange their financial affairs to maximise their eligibility for Centrelink entitlements.
February
What if my accountant still uses spreadsheets to calculate tax?
There are many good software packages that can keep track of all the different tax aspects that may arise in an SMSF.
The low-fuss way to transfer super to a spouse
Converting to a corporate trustee shouldn’t disrupt death benefit nominations so long as the paperwork has been done correctly.
How quickly will my super fund pay me a lump sum?
There are no rules requiring super funds to make payments within a set timeframe.
January
What’s the right time to wind up an SMSF?
Sometimes the complexity of running a self-managed super fund outweighs the benefits.
Retirees warned not to switch off legacy pensions just yet
Wait for the government to enact a formal debt waiver so you don’t get asked to hand back age pension payments.
Why the Commonwealth Seniors Health Card is so sought-after
The card extends lower-cost health and medical services enjoyed by government age pensioners to self-funded retirees.
December 2024
What happens to our SMSF if we die together?
Self-managed super funds aren’t covered by wills, so special arrangements need to be in place for when the final member dies, or if the members die together.
I’m selling my business for $5m. How much can I put into super?
Special tax relief is available for small business owners who sell and contribute some of the proceeds to super.
What is a pension ‘bonus’ and should I switch super funds to get one?
You might receive an additional $2500 on a balance of $500,000 or $9500 on a balance of $1.9 million, but funds typically impose clawback conditions so be careful.
How to navigate the downsizer contribution rules for super
You can take advantage of the generous downsizer contribution provision from age 55 and there is no upper age limit, although the entitlement can only be used once.
November 2024
How do I make sense of all the different superannuation caps?
The transfer balance cap is $1.9 million but after you start drawing a pension, there is no limit on investment earnings.
We have $5m in super as a couple. How can we contribute more?
The maximum amount of super that can be transferred into a tax-free pension account is $1.9 million, although investment earnings can grow the balance without penalty.
Hundreds of SMSFs may have been misled into this illiquidity trap
The financial complaints authority says two people who set up SMSFs based on bad advice are owed almost $400,000. Hundreds of others may be in the same boat.
October 2024
This couple put their life savings into an SMSF. They can’t get it out
Alex and David Didlock say they were misled by a financial adviser who promised better returns and maximum liquidity. Now they’re being told they might never see their money again.
What’s the best way to transfer super to a surviving spouse?
In some cases, no formal death benefit nomination could be the best option because it provides flexibility.
At last, Labor has a plan for legacy pension exits
After years of delay, the federal government has produced regulations that will release retirees from restrictive legacy pensions.
September 2024
How to maximise pension payments if one spouse is younger
Keeping a younger spouse’s super in accumulation phase can have the benefit of improving the age pension entitlement of the other person.
I’m 74 and want to run my $10m SMSF with less fuss
A wealth manager can help you with investment strategy, administration and accounting. But choose wisely by checking their qualifications.