In June 2020, we saw the Federal Government finalise legislative fixes to anomalies dating back to the super reform measures that commenced on 1 July 2017. These legislative adjustments included fixing the debit value that arises when a non-commutable, life expectancy or market linked income stream that is also a capped defined benefit income stream…
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The Federal Government appears to have made good on their previous election commitment to increase the number of members to a maximum of 6 within a SMSF. We have seen Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020 introduced into the House of Representatives and moved swiftly in the Senate where it is more…
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The National Cabinet in April 2020 introduced the Mandatory Code of Conduct for commercial tenancies (“the Code”) that provided a set of good faith leasing principles for landlords and their tenants to use for negotiations. The specifics of the Code was required to be legislated at a state level, where for example the Victorian Government…
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As practitioners start to undertake the completion of the financials and SMSF Annual Return for the year ended 30 June 2020, many pension members are likely to have withdrawn more than the temporary 50% reduced minimum pension for the 2019/20 as a result of this amended legislation only taking effect from 24 March 2020. It…
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Having to postpone our SMSF Day 2020 events earlier this year in March/April, we remained hopeful that later in 2020 these events would be able to run around Australia. However, stage 4 lockdown in Melbourne and many state borders remaining closed for some time has meant that the team at Smarter SMSF had to revert…
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