Category Archives: Super Tax

Masterclass SMSF – What you can and can’t do when borrowing in SMSF (LRBA)

Bryan Ashenden at Money Mangement writes about the can’s 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 Instalment … Continue reading

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Masterclass SMSF – How super death benefit nominations work and how binding applies

When an SMSF member has died, your super (applies whether in commercial fund or SMSF), is NOT controlled by your WILL. It is controlled by a nomination and the surviving SMSF trustees must comply with the applicable super and tax … Continue reading

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Masterclass SMSF – How to buy property with super fund – the steps for SMSF Property purchasing

The legislation for Self-Managed Super Fund (SMSF) allows for borrowing to acquire properties when specific criteria are met. There are 2 main ways self managed super funds are buying property: Outright – If there is enough money to cover the … Continue reading

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Masterclass SMSF – How the downsizer contribution works from sale of your home near retirement

The 2017 federal budget brought in a new allowance for a new type of superannuation contribution for individuals looking to downsize their principal residence. Michael Hallinan at smsmagazine.com.au explains some of the rules around these new contributions. The downsizer contributions … Continue reading

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Masterclass SMSF – End of year checklist – Set up for the end of financial year (SMSF)

Now there are a few weeks to the End of Financial Year (EOFY) left, it’s time to have a review to ensure all is in order and all ACTIONS taken by 30 June deadline, as well as papers documenting all … Continue reading

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Masterclass SMSF –What happens to super when you die?

On the death of a person the law is that a member’s benefits must be cashed as soon as practicable. It is called a death benefit payment. Super does NOT form part of a person’s estate. To do so, a … Continue reading

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Masterclass SMSF – What can SMSF invest in?

For the Self-Managed Super Fund (SMSF) Trustee, there are certain rules that must be followed to ensure the SMSF super fund stays compliant regarding what you can invest in. Here they are and the Regulations or rule from the SIS … Continue reading

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Masterclass SMSF – SMSF Rollover – Important things to consider

You can accept an SMSF Rollover from your commercial super funds (or other SMSF), but it is important to ensure the details are documented properly. The ATO website gives further guidance, and important things to watch – Receiving a rollover … Continue reading

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Masterclass SMSF – Are SMSF setup costs deductible according to the ATO? What expenses are claimable?

One important consideration we are asked concerning self-managed super funds (SMSF) is “are the set-up costs such as the Trust Deed, tax deductible for the SMSF?” In taxation ruling TR 93/17 the ATO gives a number of explicit examples of … Continue reading

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Masterclass SMSF – More on when an SMSF member dies, death and superannuation – what are the tax consequences?

In our post last month on this topic, we looked at WHO can get super money if there are no dependants when a member dies. This time we look at the tax consequences. Now even though there may be no … Continue reading

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