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Article archive
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Quarter 4 October - December 2023
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Quarter 4 October - December 2014
Quarter 2 of, 2015 archive
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Reminders and Tax Strategies for SMSFs pre-year end
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End of year tips for SMSFs
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Market Update – May 2015
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An investor's personal trainer
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SMSF trustee penalties going up
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Contraventions rife among non-advised SMSF trustees
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Dealing with investor uncertainty
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Reserve bank gives the economy a lift
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Retirement planning: the gap between intention and reality
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Market Update – April 2015
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Australian Government - Budget 2015
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Budget 2015 - some professional opinions
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What does the ATO want from you?
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Making sense of the new excess contribution rules
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Greying, working and contributing
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Simple-yet-smart investment housekeeping
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Market Update – March 2015
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Two sides to the age profile of SMSF members
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Actuaries call for end to superannuation policy tinkering
Reminders and Tax Strategies for SMSFs pre-year end

 

A very brief and simplistic checklist for SMSF trustees to undertake before 30 June 2015

       

  1. A member aged 49 or over can contribute up to $35,000 of concessional contributions (otherwise $25,000)
     
  2. Ensure sufficient days are allowed for clearance through the bank of contributions 
     
  3. Is it possible to predict self-employed persons income for the year and maximise the contributions to reduce assessable income?
     
  4. If excess contributions have been made in previous years, ensure that you don’t contribute again in breach of this.
     
  5. If you make a contribution and intend to start a pension, ensure that the notice of intent to claim a tax deduction is signed before commencement of the income stream
     
  6. If already in pension phase, have you drawn the minimum pension to retain the exempt status?
     
  7. Are you aware that not taking the minimum pension means that you have ceased taking the pension and therefore any pre 1 January 2015 pensions will be subject to the new deeming rules for age pension purposes?
     
  8. Administrative matters such as the existence or appropriateness of binding death benefit nominations, an update of investment strategy, an update to insurance requirements and review whether the deed is too old.

 

 

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