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Transition to Retirement Pension: Reaching Preservation Age and Still Working
Reaching preservation age lets SMSF members start a Transition to Retirement Pension (TTR) while still working. TTR pensions are taxed differently from retirement phase pensions, regardless of age. If your SMSF is fully in pension phase, a Trust Income Schedule may not be required. Failure to meet minimum pension withdrawals risks losing tax exemptions. Trustees must understand these rules for compliant retirement planning.
3 min read
What is Preservation Age in SMSF
Preservation age in SMSFs sets the earliest age for accessing superannuation benefits, shaped by birthdate and retirement status. This article explains preservation age, exceptions where it may not apply, its influence on SMSF retirement and investment strategies, and the role of advisors like financial planners, accountants, and lawyers in assisting trustees and mortgage brokers.
3 min read
Sole Purpose Test in SMSFs Explained: What Trustees Need to Know
Understand the SMSF Sole Purpose Test, which ensures all fund actions and investments are solely for retirement or death benefits. Learn how it impacts compliance, investments, and trustee responsibilities.
2 min read
Benefits of SMSF vs Retail Super Funds: Understanding the Advantages of a Self-Managed Super Fund
Explore the benefits of SMSF compared to retail super funds, including greater control, wider investment options, potential tax advantages, family pooling, and retirement flexibility. Learn why many Australians choose self-managed super funds to take charge of their financial future.
3 min read
Accessing Your SMSF Benefits: Overview to Preservation Rules, Multiple Members, and Conditions of Release
Accessing SMSF benefits requires following preservation laws and SMSF trust deed rules carefully. Preservation age, conditions of release, and member-specific eligibility in multi-member SMSFs affect when you can withdraw. Trustees must verify conditions, ensure compliance, and maintain records to avoid tax penalties and protect the fund’s tax status while providing member benefits.
3 min read
Commercial Property in SMSFs: Why It Could Make Sense
Acquiring commercial property through an SMSF offers small business owners rental income, asset growth, and operational control. Related-party leasing on arm’s-length terms boosts super fund income while overcoming borrowing limits through LRBAs. Compounded rent increases highlight the financial advantage of ownership. With compliance and expert advice, SMSF commercial property investment can be a cornerstone of retirement planning.
4 min read
Who and What Is an SMSF Trustee?
In an SMSF, trustees are legally responsible for managing the fund, complying with superannuation law, and acting in the best interests of members. Whether as individual trustees or directors of a corporate trustee, their role includes managing investments, ensuring compliance, and protecting members’ retirement savings. Learn what an SMSF trustee is, their obligations, and why this role is critical to running a successful fund.
3 min read
What Can an SMSF Invest In? Rules Explained
SMSFs can invest in shares, property, term deposits, and more, but strict rules apply. Investments must meet the sole purpose test, align with an SMSF investment strategy, and avoid prohibited use by members. Understanding SMSF investment rules helps trustees stay compliant while building a portfolio designed to provide retirement benefits.
2 min read
What is an SMSF? Understanding Self-Managed Super Funds in Australia
A Self-Managed Super Fund (SMSF) gives individuals direct control over their retirement savings. With one to four members acting as trustees, an SMSF allows tailored investment strategies across property, shares, cash, and more, while requiring strict compliance with ATO rules. SMSFs offer flexibility and potential tax benefits, but managing them involves responsibility, time, and ongoing costs.
3 min read
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