Today
Can I give my money to kids and still get the age pension?
Questions from parents asking about gifting money to children have been quite common this year, say advisers.
- John Wasiliev
This Month
- Opinion
- Opinion
What retirees can do now that term deposits are generating tax bills
Retirees who find themselves paying more tax on bank deposits because of rising interest rates can move the money into superannuation.
- John Wasiliev
- Opinion
- SMSFs
Contributing to super can be wiser than drawing a tax-free pension
Should everybody start drawing a pension from their superannuation as soon as they hit 65 to get the tax benefits? Not necessarily.
- John Wasiliev
A family trust strategy to deal with the $3m super tax
The first hurdle is that to both access your fund and withdraw lump sums, you must satisfy a condition that allows this – either retiring or turning 65.
- John Wasiliev
September
Can I withdraw $500,000 from my super fund as a lump sum?
The answer is yes, but how you do it could make all the difference to potential inheritance top-ups later.
- John Wasiliev
Keep a cool head when planning for mooted tax rise on super over $3m
Investors should be cautious about changing their long-term strategies.
- John Wasiliev
Can I use super to pay off about $55,000 of debt?
A reader asks about early access to an endowment policy that was switched into a personal retirement savings plan.
- John Wasiliev
How to run a property business from your super fund
A reader asks whether his SMSF can start a self-storage enterprise where he owns the land and the fund buys the rest.
- John Wasiliev
August
How does fund manager profit taking affect my SMSF?
Market volatility is distracting but it can largely be ignored by SMSF trustees, especially those intending to hold their shares over the long term.
- John Wasiliev
How do I make catch-up salary sacrifice contributions to super?
Boosting your superannuation balance by using salary sacrifice arrangements is a great idea, but there are limits to doing so.
- John Wasiliev
Can my SMSF borrow from my family trust to buy a beachside unit?
Self-managed superannuation funds can borrow from a “related party” such as a family trust or company to purchase property, but there are strict rules.
- John Wasiliev
Seniors health card: why getting it may be simpler than you think
Super in accumulation accounts is not counted in the income test for this popular concession card.
- John Wasiliev
Will inheriting my wife’s super stop me getting seniors health card?
What you need to know about complex pre-2007 legacy pensions when they become a death benefit.
- John Wasiliev
July
I’m expecting my super to ‘pop’ – how can I avoid new $3m cap?
What you need to know about unrealised capital gains in your super and why they can be important, especially for those facing the government’s super tax.
- John Wasiliev
Why is it so tricky to figure out eligibility for this health card?
Unique contribution and taxation features make things confusing for retired public servants when figuring if they qualify for the Commonwealth Seniors Health Card.
- John Wasiliev
How to avoid super’s CGT trap
If your SMSF is selling or transferring investments to beat the $3 million cap, there will be tax implications for those in pension and accumulation mode.
- John Wasiliev
Help! My super fund doesn’t have enough cash for pension payouts
Minimum drawdown rates are no longer halved, leading to problems for SMSFs that can’t finance this. These strategies can help.
- John Wasiliev
June
How is my SMSF taxed if we have pension and accumulation accounts?
This is where you’d need the help of an actuary to work out the percentage of assets that would be exempt from tax as they support the pension.
- John Wasiliev
Can we get the Commonwealth Seniors Health Card on a defined pension?
Thousands of public servants with defined benefit pensions could potentially be eligible for this popular concession card.
- John Wasiliev
How to tackle distributions with a $3m super fund
The upcoming $3 million superannuation cap means investors need to think carefully about how distributions are treated under tax rules.
- John Wasiliev
