News : Contributions

Compliance & Regulation, Contributions, Downsizer

Downsizer extensions very strict

An application to have the downsizer contribution deadline extended will only be successful if there is a legitimate reason behind the request.

An application to have the downsizer contribution deadline extended will only be successful if there is a legitimate reason behind the request.

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Compliance & Regulation, Contributions, Downsizer, Legislation, Regulation

Downsizer rules require sale proceeds

In order to be able to make a downsizer contribution, SMSF members must actually receive some proceeds from the sale of their existing residence.

In order to be able to make a downsizer contribution, SMSF members must actually receive some proceeds from the sale of their existing residence.

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Compliance & Regulation, Contributions, Downsizer, Legislation, Regulation

Downsizer rules applied strictly

The ownership rules required to be satisfied before an SMSF member can make a downsizer contributions can be inflexible in some scenarios.

The ownership rules required to be satisfied before an SMSF member can make a downsizer contribution can be inflexible in some scenarios.

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Contributions, SMSF, Superannuation

What contributions can I make in 2025/26?

The contributions certain individuals can make for the 2026 income year have changed due to the indexation of a separate superannuation threshold.

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Contributions

In-specie contribution receipt diverse

Specific practicalities must be taken into account for different asset classes when officially recognising in-specie contributions.

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Contributions

Marriage length no downsizer issue

Marriage, downsizer contribution, spouse, SMSF, self managed super, Accurium, Natalie Scott, relationship length, capital gains tax

The ability for a spouse to take advantage of the downsizer provisions is not dependent on how long the couple in question have been married.

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Contributions

Date of birth impacts bring-forward NCCs

self managed superannuation, self managed super, SMSF, Non-concessional contributions, NCC, bring-forward NCC, Colonial First State, Linda Bruce, Craig Day

The provisions allowing SMSF members to trigger the NCC bring-forward rules in a subsequent financial year are birth-date sensitive.

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Contributions

Tax strategy contribution split unwise

single transaction, contribution reserving strategy, tax deduction, Accurium, Anthony Cullen, ATO, self managed superannuation, self managed super, SMSF

Best practice suggests a contribution reserving strategy should be implemented using two separate transactions even though it is not required legally.

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Contributions, Tax

Cap breaches contain silver lining

Non-concessional contribution, Institute of Financial Professionals Australia, IFPA, Natasha Panagis, tax-free, retirement savings, superannuation, 

SMSF members can enjoy an unexpected benefit with regard to the taxable component of their benefits subsequent to making a contribution in error.

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