The Final Report of the Retirement Income Review was recently released (20 November 2020) by Treasury which covered the current state of the retirement income system and how it will perform in the future as Australians live longer and the population ages. As part of the SMSF Adviser Show, co-hosts, Aaron Dunn and Miranda…
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…
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of the financials and SMSF Annual Return for the year ended 30 June 2020, many pension members are likely to have withdrawn more than the temporary 50% reduced minimum pension for the 2019/20 as a result of this amended legislation only taking effect from 24 March 2020.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…
The Federal Government has announced revised a revised start date of 1 July 2021, deferring the commencement on two proposed actuarial red tape measures that were announced in last year’s Federal Budget. This revision are a result of the Government’s re-prioritisation of resources and the shortened parliamentary sitting period in 2020 due to the COVID-19…
This Monday, 20 April 2020 starts the process for many individuals looking to apply for an early release of super on compassionate grounds due to the coronavirus. This process requires individuals to determine eligibility and self-certifying in the application process – it does not require evidence to accompany the application, but does require the individual…
