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Legislation

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How the $3 million super tax impacts unfunded pension schemes

Unfunded defined benefit plans mostly cover current and former Commonwealth and State public servants. These schemes are different from funded ones, yet the new $3 million super tax will treat them similarly.

Meg on SMSFs: Is a binding death benefit nomination worth it?

A binding death benefit nomination makes sense if you belong to an APRA super fund, yet how about if all of your super is in an SMSF? Here are the pros and cons of having such a nomination in your SMSF.

Meg on SMSFs: negative earnings and the $3 million tax

There’s no good news in the draft legislation for 'Division 296 tax', the new name for the tax on super over $3 million. These worked examples show the flaw in taxing unrealised gains. And stop calling it a 30% tax.

Questions remain on legislating the objective of superannuation

There is far more to the simple 'objective of super' than meets the eye. It will guide future policy and those who assume we've seen the end of major superannuation changes are not reading the signals.

'Rorts and rip-offs’ prevention in super legislation

A bill that allows the ATO to merge dormant super accounts with active ones and release super members from compulsory life insurance embedded in enterprise agreements and from exit fees was tabled on 21 June 2018.

10 quick points on super reform for dummies

  • 22 September 2016
  • 2

Cut through all the political speak and hype with this simple checklist of proposed super changes (as they currently stand), but remember - these changes are yet to be legislated.

What might the Tax White Paper say on imputation and CGT?

A question from one of our readers on whether the (delayed) Tax White Paper will result in changes to the dividend imputation and capital gains tax systems.

Make sure going overseas does not spoil your SMSF

If your SMSF loses residency status while you are overseas, the tax penalties are significant enough to spoil your retirement. Being aware of the rules and options available allows you to avoid the hurt and enjoy the homecoming.

Death benefit pensions and the recent amendments

Technical but important - recent amendments allow the income on investments supporting a non-reversionary pension to continue as exempt current pension income after the death of the member.

Bring on the Council of Superannuation Custodians

Research now backs up the anecdotal claims that SMSF trustee confidence in the superannuation system is declining. The proposed Council with its independence and long term view will help address this.

Most viewed in recent weeks

Meg on SMSFs: Clearing up confusion on the $3 million super tax

There seems to be more confusion than clarity about the mechanics of how the new $3 million super tax is supposed to work. Here is an attempt to answer some of the questions from my previous work on the issue. 

Welcome to Firstlinks Edition 566 with weekend update

Here are 10 rules for staying happy and sharp as we age, including socialise a lot, never retire, learn a demanding skill, practice gratitude, play video games (specific ones), and be sure to reminisce.

  • 27 June 2024

Australian housing is twice as expensive as the US

A new report suggests Australian housing is twice as expensive as that of the US and UK on a price-to-income basis. It also reveals that it’s cheaper to live in New York than most of our capital cities.

The catalyst for a LICs rebound

The discounts on listed investment vehicles are at historically wide levels. There are lots of reasons given, including size and liquidity, yet there's a better explanation for the discounts, and why a rebound may be near.

How not to run out of money in retirement

The life expectancy tables used throughout the financial advice and retirement industry have issues and you need to prepare for the possibility of living a lot longer than you might have thought. Plan accordingly.

The iron law of building wealth

The best way to lose money in markets is to chase the latest stock fad. Conversely, the best way to build wealth is by pursuing a timeless investment strategy that won’t be swayed by short-term market gyrations.

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