Tag Archives: Retirement

Shield Wealth and Stellar Super, in conjunction with Paul Salinas, from Campbell & Co Lawyers are hosting boardroom sessions in March.

Estate planning is a subject that we don’t like to think about but in its simplest form, it is just about ensuring peace of mind. It is about making sure that the investments you make now are passed on to your family or beneficiaries in the most effective way.

Developing an effective estate plan will ensure that:

• Any tax payable is minimised

• The ownership of assets passes to the right beneficiaries

• The assets are protected if any beneficiary has any legal issues

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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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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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Stellar-Super

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.

Continue reading →


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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Stellar Self Managed Super

Survey – Stellar Annual Conference

We are looking at holding an annual SMSF seminar next year, touching on areas from legal experts, auditors and much more. Would you please complete the included Survey so we can ensure an optimum outcome?

https://www.surveymonkey.com/r/PGJTDCQ