Category Archives: Uncategorized

Crypto Currencies

This is an area that is becoming increasingly discussed within the self-managed superannuation fund (SMSF) environment and we encourage those that are interested in this type of investment contact us first to discuss the implications as there is no ‘one size’ fits all.

Some areas of compliance to review but not limited to, are:

  1. Separation of assets – An electronic crypto currency wallet is a pre-requisite for purchase, one of the potential issues here is that some providers do not cater for self-managed superannuation fund (SMSF) titles on this wallet. .
  2. Acquisition from a related party – Ensure that this purchase is made from an independent third party.
  3. Investment strategy – This will need to be reviewed, and potentially updated, to ensure this is an allowable investment by the Fund.
  4. Trust Deed – As with your SMSF’s investment strategy, this will need to be reviewed, and potentially updated, to ensure this is an allowable investment by the Fund.

 Please note that there are taxation rulings and determinations issue by the Australian Taxation Office (ATO) and capital gains tax rules may apply to the disposal of the asset.


SMSF Auditor Only Service

At Stellar Super we are passionate about helping our clients get the most from their Self-Managed Super Funds (SMSF’s) – what we deliver is confidence in the Super Advisory process.

 We are offering an “audit only” service for financial providers who like to offer independent, third-party audits for their clients, as well as for SMSF Trustees that prepare their year-end work.

Our fee for this service will be a flat-rate,  no matter the size of the SMSF, and you can be assured of privacy for your firm and your clients.

Our ASIC registered SMSF Auditors have extensive knowledge in this area and will be able to ensure a high quality and professional experience for your clients.

If you would like additional information about our services, please contact us at our office.


New reporting requirements for superannuation pensions

With the new super rules beginning on 1 July 2017, your requirement to report information about your SMSF and the pensions it pays you and other fund members may be changing. This is driven by the introduction of the new $1.6 million transfer balance cap which limits the number of assets you can use to pay pensions from super with.

Currently, pensions only need to be reported once a year through the SMSF annual tax and regulatory return to the Australian Taxation Office (ATO).

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SMSF Audits – Independent Third Party

As Stellar Super we are passionate about helping our clients get the most from their Self-Managed Superannuation Funds (SMSFs) – What we deliver is confidence in the Super Advisory process.

We offer an audit service, to Trustees and other SMSF professionals,  who would like an independent, third party, audit. Our fee for this service is a flat rate, no matter their size of the Fund, and you can be assured of privacy.

Our ASIC registered SMSF auditor has extensive knowledge in this area and will be able to ensure a high quality and professional experience.

Please contact us at 02 6274 0400 or superadmin@tribegroup.com.au.


ViewSuper

We are offering a complimentary service for our clients called ViewSuper.

ViewSuper allows real-time two-way communication between us and you. It is an online portal that gives access to data for Trustees, including a snapshot of contributions received, withdrawals and any alerts to the Trustee of potential issues.

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Trust deeds in the new SMSF world – Benefit payments and estate planning

Trust deeds in the new SMSF world – Benefit payments and estate planning

The superannuation trust deed, along with the superannuation laws, form the governing rules that a self-managed super fund (SMSF) need to operate by. The introduction of the $1.6 million transfer balance cap (TBC) and new transition to retirement income stream (TRIS) rules are a ‘game changer’ for SMSFs when discussing benefit payments and estate planning. With the new super rules in effect as of 1 July 2017, now is the right time to review if your trust deed needs to be enhanced or amended to deal with the new approaches and strategies you may need to implement.

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Finalist Announcements

Stellar Super Pty Ltd is in the running to take out several of Australia’s most coveted SMSF awards.

We have been shortlisted as finalists in the following awards:

SMSF and Accounting Awards 2017 – NSW/ACT

  • SMSF Firm of the Year
  • SMSF Adviser of the Year
  • SMSF and Accounting Professional of the Year – Metropolitan
  • SMSF Specialist Accountant of the Year

Women In Finance 2017 – Nationwide

  • SMSF Adviser of The Year

We are humbled by this recognition and it is wonderful to be eligible for this accolade.

The winners will be announced on the 21st September and the 2nd November, in Sydney.


Investment Strategy

Always Keep Your Investment Strategy in Your Mind

You have made it through the financial year and navigated the new superannuation laws that took effect on 1 July 2017 but there is one thing you should always think about and that is your investment strategy. Additionally, there is no better time than right after a financial year end where you can review your SMSF investment strategy and its performance.

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CGT Relief

From 1 July 2017 a cap of $1.6m will be introduced on the amount a person can transfer into the tax free retirement phase. Anyone with a total retirement phase balance in excess of $1.6m will generally be required to either commute the excess amount back to accumulation phase or withdraw the excess from superannuation altogether. Further, transition to retirement (TRIS) pensions will not be treated as retirement phase income streams from 1 July 2017.

Overview

Earnings on assets supporting retirement phase income streams are eligible for an exemption from income tax. To compensate those who will need to transfer assets out of retirement phase in order to comply with the new rules will have access to Capital Gains Tax (CGT) relief on the impacted assets. This CGT relief will allow the Trustee to elect to reset an asset’s cost base in 2016-17. This effectively locks in the capital gains tax treatment of the assets up to 30 June 2017 prior to the new rules applying from 1 July 2017. How this relief applies is different depending on several factors.

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