Category Archives: Masterclass SMSF

Masterclass SMSF – What happens when a member dies and what are SMSF dependents?

When a member of a SMSF dies, SIS Reg 6.21(1) directs that the member’s benefits must be ‘cashed’ as soon as practicable. The money is then paid by either a lump sum payout to dependants or to the estate, or … Continue reading

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Masterclass SMSF – Who can be Trustee, special notes & Changing Trustee

All self-managed super fund (SMSF) members must be trustees of the fund, but a trustee need not be a member, however there are some exceptions such as: Minors, being too ill or old, mental incapacity or travel overseas for an … Continue reading

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Masterclass SMSF – End of Financial Year Review – Ensure the records and tasks are in order!

With only weeks to the End of Financial Year (EOFY) left, it’s time to have a review to ensure all is in order and all papers documenting all transactions during the year, are in hand and ready for auditor and … Continue reading

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Masterclass SMSF – Borrowing in SMSF – Careful with Apartments and Car Parks!

Last month we covered an overview of the Cans and Can’ts with Borrowing in an SMSF. CAUTION – However when it comes to apartments, be careful – get the facts BEFORE you commit! Several clients have found that when the … Continue reading

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Masterclass SMSF – Borrowing in SMSF – The Cans and Cant’s

Bryan Ashenden at Money Mangement writes about the cans and cant’s of borrowing in SMSF- One of the investment opportunities available to self-managed superannuation fund (SMSF) trustees is the ability to purchase an asset using borrowed funds. From the original … Continue reading

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Masterclass SMSF – CGT Relief – Capital Gains Tax Superannuation exemption when moving excess pension over $1.6 mill. pension account cap by 1 July 2017

If you have more than $1.6 million in superannuation pension phase, and/or a transition to retirement income stream (TRIS) and you wish to continue from 1 July this year, you must reduce the pension balance down to the $1.6 mill. … Continue reading

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Masterclass SMSF – What Happens when an SMSF member dies who is an ex-spouse with a Binding Death Nomination?

An associate had a situation with a client as follows – A is married to B. During the marriage A does a BDN in super to B. We will assume the BDN is valid. After the BDN, A and B … Continue reading

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