TOPIC: Redefining the super life cycle – Expanding the family fund (Part 1)

For the SMSF Day, we introduce you to the Malthouse family, who run a successful craft brewery and tap house called Little Brewers.

In this first session with our SMSF Day case study, we will investigate what opportunities might exist for the Malthouse family as they navigate Andrew and Mary’s transition to retirement and consider whether an SMSF is an appropriate superannuation vehicle for Kathy, Simon and Melissa.

We start in the current environment, pre-30 June 2023.

The session will explore:

• considerations increasing the number of members within the Little Brewers Super Fund, or alternatively create new SMSFs.
• a range of contribution opportunities within the family group, and key considerations of each strategy.
• How strategies expand for downsizer contributions with the reduction of the qualifying age to 60 years and over.  We will also explore how this strategy can interact with other contribution strategies to maximise contribution opportunities into super.
• Understanding the timing of contributions, making elections (where required), contemplate the commencement of pensions, and more.

Duration: 90 mins

TOPIC: Redefining the super life cycle – Managing multi-phase funds and dealing with the inevitable (Part 2)

The traditional superannuation lifecycle assumed members would hit 65, retire, and then access their benefits, preferably as a super income stream (i.e. account-based pension). Removing the compulsory cashing requirement at age 65 (in 2007), introducing the transfer balance cap, modifying the contribution acceptance rules and potentially introducing a tax levy on high account balances means contribution, pension, estate planning and asset retention strategies are constantly evolving.

Part 2 of the session advances the Malthouse family considerations and number of key issues with Andrew and Mary including (but not limited to):

• Finalising contribution opportunities in the lead-up to age 75, including the timing of deductible personal contributions
• Understanding the impact of commencing and commuting income streams in line with indexation of personal transfer balance caps
• Strategy consideration with benefit payments, use of re-contributions and multi-pension strategies
• Assessment for the Commonwealth Seniors Health Card; and
• Reversionary and other death benefit pension considerations in the event of a member’s death

Duration: 80 mins

TOPIC: Puncturing the life cycle

We’d all like to think that we are born, we go through our youth relatively unscathed, enter adulthood, full-time employment, perhaps start a family and work until we can comfortably retire. We watch our kids, and their kids grow up, enjoy retirement and then die peacefully in our sleep.

The lifecycle dream is often shattered by untimely, unscripted and most likely undesirable events that can dramatically alter the way we live and most likely require us to reboot our plan. All of the following events can have a significant impact on our planning and life outcomes, we call them the 6 Ds:

• Disputes & Dissolution
• Divorce
• Departure
• Disability
• Death
• Other (disasters)

In this session we will take our family “off-script”, but as is the case for so many, this is totally on script!

Duration: 75 mins