Monthly Archives: June 2013

SMSF Basics – New Changes in 2013 May Budget

  As a trustee of a self-managed super fund (SMSF), it is your responsibility to keep up with new changes and compliance requirements, especially budget announcements and legislation passed. That is what we provide for clients of SuperBenefit, to assist … Continue reading

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News – Excess Contributions Tax (ECT) Law Passed

Last Wednesday 19 June, the bill to amend the excess contributions tax (ECT) was introduced to parliament, but debate adjourned after a second reading, then re-considered Thursday. Chris Kennedy wrote in Investor Daily …”the deputy speaker reported that the Tax … Continue reading

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Masterclass – SMSF – Part 1: What If There Are No Dependants When a Member Dies?

If a member has no surviving spouse (or de facto) or children when they die, there may be other people who were dependant on the member – this is defined in section 10 of the Superannuation Industry Supervision Act 1993 … Continue reading

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News – Aust Lost Super Pool Still Growing – Now $18 bill

Super money is deemed “lost” when super funds do not have the contact details of the member and the member account has been inactive for a specified minimum period. The average estimated lost super amount per person is about $2500. … Continue reading

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News – Employer Payments Decline While Personal Payments to Super Rise

Some interesting news about employer (concessional) verses personal (voluntary) payments (contributions) to super accounts. On  31 May 2013, Kate Kachor reported at Financial Observer that – “Strong equity markets and positive news on superannuation fund returns were behind a record … Continue reading

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MASTERCLASS Investment – What Determines Good Companies to Invest In?

  In our Masterclass we look at what we are looking for – good healthy companies that are worthy of investing in – so what determines a “good company”? Rather than just rely on gut feel or what someone else … Continue reading

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News – Legislation Passed to increase Concessional Contribution Caps for 60 year-olds from 1 July 2013 & 50 year-olds from July 2014

The passage of the legislation to increase the concessional contribution cap to $35,000 has been applauded by the SMSF Professionals’ Association of Australia (SPAA) in their Media Release on Thursday 30 May 2013. The House of Representatives has passed the … Continue reading

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