News : Pensions

COVID-19 creates pension drawdown headache

May 22, 2020

Trustees drawing pensions based off low-returning assets will still have to draw the minimum amount and cannot sidestep that requirement, the ATO has said.

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Pensions, Superannuation

Govt announces temporary super and pension measures

March 27, 2020

Tharshini Ashokan

The federal government has announced it will allow early access to superannuation for people under financial stress as a result of COVID-19.

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ATO, Pensions

ECPI discretion success has common factors

October 9, 2019

Darin Tyson-Chan

A successful application for ATO discretion to claim exempt current pension income usually involves some common elements, a technical manager has said.

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Documentation, Pensions, Retirement

Trust deeds key to TRIS status in retirement

August 7, 2019

Tharshini Ashokan

Trustees should pay close attention to their SMSF trust deeds to ensure members converting to retirement phase still benefit from TRIS regulations, an SMSF expert says.

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Estate Planning, Pensions

Wording can undermine BDBN

June 7, 2019

Darin Tyson-Chan

The effectiveness of a binding death benefit nomination (BDBN) can be compromised if the associated wording does not properly support the measure, an SMSF lawyer has warned.

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ATO, Pensions

Changes made to ECPI calculation rules

April 9, 2019

Jason Spits & Darin Tyson-Chan

The methodology for calculating ECPI has been changed, allowing trustees in accumulation and retirement phases in one financial year to choose their preferred method of calculation.

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