SMSF members planning on reporting a revised commutation value on a pre-1 July 2017 market-linked pension may wish to hold off on that move until further information is released by the government around the treatment of commutations in excess of a transfer balance account, a technical expert has advised. Accurium head of education Mark Ellem […]

A potential solution for situations where a new market-linked pension gives rise to a transfer balance cap breach has been included in the government’s Mid-Year Economic and Fiscal Outlook.

Adverse tax outcomes can result from full commutations of pensions involving in-specie transfers, a technical services manager has warned.

Formal elections made at the start of the 2019/20 financial year regarding payments made above the minimum pension are unlikely to allow any re-classification of drawdowns in excess of the COVID-19 reduced threshold.

The ATO has released guidance intended to help funds navigate the new TBA debit calculation for commutations of market-linked pensions, which was passed as law in June.

The ATO is yet to provide definitive guidance on death benefit lump sums and whether multiple payments can be made, a technical expert says.

Tax-effective strategies associated with pensions need to be formulated before an income stream is commenced, a technical expert has said.