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Superannuation Law

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What happens to your super when you die?

Nominating beneficiaries with your super fund is the only way to direct your death benefits to the people you want to receive it. The steps you take will depend on your circumstances and who your intended beneficiaries are.

Reform needed to allow donations from super to charity

Superannuation is a valuable investment vehicle and deciding the intended recipient of these funds in the event of death is crucial. Yet there's a significant limitation: super benefits can't be allocated to charities.

The net cost of superannuation concessions is not so gross

The costs of super concessions are usually quoted in gross terms, ignoring offsetting behavioural changes and social security savings. The impact of very large balances should be measured in net terms.      

The mechanics of the $3 million super tax must be fixed

Most people accept there should be a limit to the tax concessions for high super balances, but the mechanics of Government's $3 million proposal must be fixed before it is legislated. Treasury missed the detail.

Watch out, it's not easy being the executor of an estate

An actuary warns of the frustrations he experienced as executor of his brother's will, a role he expected to be straightforward. He knew super does not automatically form part of an estate but there are traps for all to learn.

Valuable super contribution changes are now law

Important changes to superannuation that affect an individual’s ability to contribute are now law with effect from 1 July 2022. Check the new rules for changes to your circumstances to boost your super.

Indexation complication! Four changes you need to know

Several superannuation thresholds will be indexed from 1 July 2021, and it's critical to check the new opportunities to put more into the tax advantages of super. Some of the calculations are tricky, others easy.

Claiming a tax deduction for super contributions

The timing of lodging a notice of intent to claim a tax deduction on super contributions and making partial rollovers or withdrawals can make a big difference to the amount allowed to be claimed.

The impact of our marriage breakdown on our SMSF

Even if a marriage ends amicably, there are complications when partners share an SMSF. You can't simply 'split' the assets on a handshake, and who takes the capital gains and what's the impact on an estate?

Court holds SMSF trustees accountable

A recent case highlights the importance of SMSF trustees exercising discretion to pay death benefits in good faith, with real and genuine consideration and in accordance with the purpose of the conferred power.

5 common mistakes in running an SMSF

The tax benefits of holding money in an SMSF come with a responsibility to follow the rules, and the penalties can be severe for what seem like innocent or mistaken breaches.

'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.

Most viewed in recent weeks

16 ASX stocks to buy and hold forever, updated

This time last year, I highlighted 16 ASX stocks that investors could own indefinitely. One year on, I look at whether there should be any changes to the list of stocks as well as which companies are worth buying now. 

UniSuper’s boss flags a potential correction ahead

The CIO of Australia’s fourth largest super fund by assets, John Pearce, suggests the odds favour a flat year for markets, with the possibility of a correction of 10% or more. However, he’ll use any dip as a buying opportunity.

2025-26 super thresholds – key changes and implications

The ABS recently released figures which are used to determine key superannuation rates and thresholds that will apply from 1 July 2025. This outlines the rates and thresholds that are changing and those that aren’t.  

Is Gen X ready for retirement?

With the arrival of the new year, the first members of ‘Generation X’ turned 60, marking the start of the MTV generation’s collective journey towards retirement. Are Gen Xers and our retirement system ready for the transition?

Why the $5.4 trillion wealth transfer is a generational tragedy

The intergenerational wealth transfer, largely driven by a housing boom, exacerbates economic inequality, stifles productivity, and impedes social mobility. Solutions lie in addressing the housing problem, not taxing wealth.

What Warren Buffett isn’t saying speaks volumes

Warren Buffett's annual shareholder letter has been fixture for avid investors for decades. In his latest letter, Buffett is reticent on many key topics, but his actions rather than words are sending clear signals to investors.

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