What is the Work Test? Let’s start with some background. The Work Test, or Age Work Test, or Over 65 Work Test, as it is often called, is a rule in place for personal contributions paid into a superannuation account by a member who is over a specified age. Members under the specified age can […]
READ MOREIs Your SMSF Investment Portfolio Diversified Enough?
The ATO have recently announced they will be contacting the trustees of approximately 17,700 SMSFs to discuss their fund’s investment strategy and whether they are actively working towards a diverse strategy. The funds within the ATO’s view are those which are invested in a single asset or asset class or have more than 90 per […]
READ MORENew Bill Impacts Insurance within Retail Super
There is a fairly big change coming to insurance within retail super and, although it doesn’t impact SMSFs, it could potentially impact SMSF members, particularly those who have retained a retail super fund purely for the benefit of the insurance held within it. This change is known as Treasury Laws Amendment (Protecting Your Superannuation Package) […]
READ MOREBill passes both houses to correct Reversionary TRIS issue
A technical issue which impacts Reversionary Transition to Retirement Income Streams (TRISs) is being corrected with a bill which has now passed both houses of parliament. The bill, Treasury Laws Amendment (2018 Measures No.4) Bill 2018, contained a solution to ensure that TRISs can be paid to a reversionary beneficiary, regardless of whether they have […]
READ MOREA New Adviser Dashboard is Coming!
We are very excited to announce that a new Adviser Dashboard will be available in 2019, via the Class Super system. SMSFcentral provided input to Class and completed testing of this dashboard, to ensure the features included really capture what our advisers want to see and do, and we are very happy with the end […]
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