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In this issue we have articles discussing the various legislative changes to superannuation particularly those relating to announcements in the May Budget.
Current superannuation rules and regulations
The constant superannuation changes that have occurred in the past few years make it difficult to be up to date with the current superannuation rules and regulations. We have summarised the major superannuation rules as they apply from 1 July 2011.
Read more
Considering a SMSF?
If you are considering whether a Self Managed Superannuation Fund is right for you check out our FocusOn overview. FocusOn Is a SMSF right for you?
And here are some Government websites that you may find informative:
http://www.ato.gov.au/superfunds/
http://www.moneysmart.gov.au/superannuation-and-retirement
Transition to Retirement Income Streams
The beginning of a new financial year is a great time to consider your superannuation and the strategies available to you to increase your retirement savings.
Please take a look at our Superannuation Pension Strategy (TRIS) FocusOn which explains how a Transition to Retirement Income Stream can assist you to meet your retirement goals.
Superannuation income stream rules
The Australian Taxation Office has recently released a new Draft Ruling (TR 2011/D3) in which it recaps its interpretation of the current law and gives details of when a superannuation income stream (pension) commences and ceases. This ruling has particular consequences when it comes to taxing benefits when a member dies.
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May 2011 Budget changes affecting superannuation
There were superannuation budget announcements made in May 2011 in relation to:
 Excess concessional (taxable) contributions
Minimum pension withdrawals for the 2011/12 year
Higher concessional caps for those over 50
Government co-contribution
SMSF supervisory levy
Reporting of superannuation contributions
Read more...
Please contact your advisor at Saward Dawson if you have any queries in relation to the above information.
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