Welcome to our latest newsletter, Budget Edition, in which we provide a brief summary of super and retirement related measures. Please remember that the following budget announcements are not yet law. Reducing the eligibility age for downsizer contributions The eligibility age to make downsizer contributions into superannuation is set to be reduced from 60 to 55 years of age. All... More Information ▶
Welcome to our latest newsletter, Budget Edition, in which we consider the main items in the budget handed down on 29 March 2022 that may impact our super clients. Extension of the temporary reduction in super minimum draw down rates The Government has extended the 50% reduction of the superannuation minimum drawdown requirements for account-based pensions and similar products for... More Information ▶
A common strategy implemented by business clients is to buy a commercial property (usually the premises from which their business is run) via their SMSF and then lease this property back to the related party. Borrowings are often used to finance the acquisition. The complexity arises when the related party tenant wants to make changes or improvements to the property,... More Information ▶
Aside from the emotional turmoil that a divorce brings to a family situation, there are an enormous range of financial issues to be worked through. Here we breakdown the key issues from an SMSF perspective: 1. Despite the extent of breakdown in the marriage, the law is very explicit about the expectations of all Trustees to continue to “act in... More Information ▶
For many business owners, the eventual sale of the business or businesses IS the retirement fund. And current profits are used to extend the business or fund personal lifestyle decisions such as luxurious family holidays. In fact the more successful a business is, the more the family tends to rely on its future success to fund an accustomed lifestyle. So... More Information ▶
