Welcome to the latest edition of Ask Lime where we answer your SMSF technical questions.
Now today’s question is as follows: “As a result of the share market falling, my Pension balance has dropped below $1. [...]
We get a lot of technical questions from our clients and we’re always very happy to answer them. So we decided to start a new series called “Ask Lime” where you are going to ask us questions and not onl [...]
One of the positive by-products of the 2017 superannuation changes, is that we now have complete clarity on what constitutes a segregated fund. For example:
If a fund has only pension assets then the fund is considere [...]
There has been lots of talk in the media about the May 2016 Federal Budget proposed superannuation changes. All the talk centres on 3 changes:
Lifetime Concessional Contribution limit of $500,000
Maximum Pensio [...]
The ATO recently made a private binding ruling (PBR) which implied that payments from Transition to Retirement pensions can be
counted towards minimum pension requirements (ie 4% annual pension payment), AND
So its a new financial year. You have survived the busy period (well done) and taken a breather. Now it is time to plan for 2015.
I suggest you consider 3 simple client strategies at this time of year: [...]
I would like to tell you about a little known ruling from the ATO. It's unfortunate that not many people know about it, because lots of people are missing out on a big opportunity.
This ruling particularly affects [...]
In August ASIC finally changed its position on the criteria for SMSFs to be classified as wholesale investors. This change was long overdue and the previous confusion caused significant inconsistency.
By way of ba [...]
The most common question we are asked is "does my SMSF need an actuarial certificate?".
The best way to start this article is to look at the situations where Actuarial Certificates are certainly not required. If a [...]