HQB’s Weekly SMSF News – Week 14: Transfer Balance Account Reporting (TBAR)
HQB’s Weekly SMSF News – Week 14 Transfer Balance Account Reporting (TBAR) – what is this and how does this affect my SMSF? TBAR refers to legislation that was introduced from 1 July 2018 that put a limit on how much an individual can transfer to pension phase ($1.6 million at the time). This meant […]
HQB’s Weekly SMSF News – Week 13: Pension Phase
HQB’s Weekly SMSF News – Week 13 Pension phase – at what age are my superannuation benefits eligible to be transferred to pension phase? Super benefits start off in accumulation phase during a person’s working life. Super benefits can be “transferred” to pension phase (or retirement phase) by commencing a pension account (account-based pension). This can […]
HQB’s Weekly SMSF News – Week 12 – Work Test
HQB’s Weekly SMSF News – Week 12 Work test – do I need to be working to contribute extra funds to superannuation? Under current rules, if you are aged 67 or older (up to age 74) you need to meet a “work test” to make personal (concessional) contributions for which you claim a tax deduction. […]
HQB’s Weekly SMSF News – Week 11 – Contribution caps – what are the limits on how much I can contribute to superannuation?
HQB’s Weekly SMSF News – Week 11 Contribution caps – what are the limits on how much I can contribute to superannuation? There are two broad types of superannuation contributions: Concessional Also known as before-tax contributions. A tax benefit can usually be obtained by making concessional contributions. The most common include employer contributions (including compulsory […]