Failing to meet the minimum for a reversionary income stream?

The Australian Taxation Office (ATO) has recently provided updated guidance on their website regarding the cashing requirements as a reversionary pension from a death benefit.  In particular, this update provides some ‘concession’ for beneficiaries where for some reason the minimum pension is failed during an income year. Where the minimum pension has not been met…

Valuation guidelines for starting a pension

The Australian Taxation Office (ATO) has provided valuation guidelines for SMSFs to comply with since the introduction of the market valuation requirements in SIS Reg. 8.02B from the 2012-13 financial year. When trustees follow the guidance provided within the ATO framework for market valuations, the Regulator will generally accept the valuation provided.  However, they may…