RSM Australia

Superannuation

Understanding the new and improved downsizer contributions rules

8 October 2019
A variety of factors come into play when determining if you should downsize the family home.

Hayne Royal Commissioner’s Assessment of the Superannuation Industry

26 June 2019
The Australian superannuation and wealth management sector has been in the spotlight over the past year as a result of the Hayne Royal Commission. The role of the Trustee and the suitability of the vertical integration model within the sole purpose test has been challenged.

Superannuation & the federal election – change is on the horizon

3 May 2019
With a federal election just weeks away and party campaigning in full swing, what changes to superannuation may be on the horizon? Coalition Win: Unscathed Superannuation

Not super to keep on meddling

23 April 2019
No wonder people aren’t engaged with their superannuation and don’t pay attention. For young people like myself there are most likely going to be another 100 rule changes before we can access our superannuation and here comes another set of proposed changes.

Insurance matters, so hang on to those superannuation accounts

21 March 2019
About 28 million superannuation accounts for 25 million Australians look to be way too many, and seemingly justifies a Federal Government campaign to forcibly consolidate funds.

Banking Royal Commission: The impact on superannuation

18 February 2019
Since its release, commentary on the Royal Commission’s Final Report has focused on the impact this will have on the Australian financial services sector and the big banks. 

Know your tradespeople: contractor or employee?

16 October 2018
Are you employing a tradesman as a contractor or employee?

A super recontribution could optimise inheritance for your kids

20 June 2018
Aside from your home, the most valuable asset you are likely to own, and potentially be able to pass on to your next generation, is your superannuation. The challenge is that once your kids leave home, their financial dependence on you, at least according to the law, pretty much ends.

Super members and trustees - are you ready for 30 June 2018?

14 June 2018
With the new financial year almost upon us, are you ready for it?  Self-managed superannuation fund (SMSF) trustees have some critical reporting dates coming up. The first of these occurs on 30 June 2018 and thereafter quarterly reporting kicks in. 

Young Australians beware of the impact of super without insurance

24 May 2018
Most Australians breathed a sigh of relief in the 2018 Budget that few changes were made to super. The government did however place some focus on limiting the amount of superannuation being eroded by fees.

Investment and broader financial planning implications

28 March 2018
thinkBIG 2018 Superannuation whitepaper: discussing the real impact of the overhaul to the superannuation system - what now?

The Power of Farmland in Superannuation

1 January 2018
Acquiring, farmland inside a Self Managed Superannuation Fund (SMSF) that can then be leased to a related party is popular strategies for farmers to help build their wealth for retirement. Make this a stress free transaction by considering the following issues: Arms-length transaction requirements

Rethinking the value of Transition to Retirement (TTR) pensions

17 November 2017
A Transition to Retirement (TTR) Pension still offers a number of benefits to you as an investor preparing for retirement. Despite the changes to the tax free earning status of a TTR, you shouldn’t be too hasty in discounting this option as it can form a central part of a bigger retirement accumulation strategy.

Invest regularly and ease your stress of market volatility

14 November 2017
If you’re an investor considering entering the market with your hard-earned savings you may feel a little uneasy about placing a large lump sum into the market all at once. Especially when you think it could experience an extended period of market volatility.

Fundamentals of Financial Success | Pillar 1 – Manage your cash flow

12 October 2017
With all the noise in the media and the constant barrage of headline-grabbing news around recent superannuation changes, it’s easy to feel overwhelmed and even confused about how all this will affect your personal financial success.

Farm Succession - How to Generate Income When Retiring From Your Farm

20 September 2017
One question I am often asked by my farming clients when considering farm succession is...

Lorna's Story - Accessing super early in the case of terminal illness

13 September 2017
Being diagnosed with a terminal illness can strike unexpectedly causing uncertainty and stress about the future. Establishing a plan for your next steps can be an important part of putting your mind at ease.

ATO focus extended to superannuation guarantee non-compliance

30 August 2017
The Australian Government has announced increased funding for the ATO in order to focus on employer underpayments of compulsory superannuation contributions.  

Downsizer contributions

10 August 2017
The 2017 federal budget was a quiet one for superannuation with no substantial reforms or tinkering with the system. One reform announced was the ability for amounts to be contributed to superannuation over and above the current limits where individuals are downsizing their primary residence. 

Superannuation contribution opportunities and traps

10 August 2017
The first issue to be aware of is the reduction in super contribution limits that start from 1 July 2017.

Choosing capital gains tax relief

10 August 2017
A key component of the Fairer Super reforms is the ability for superannuation funds impacted by the reforms to revalue their assets to their current market value for taxation purposes.

Superannuation - there can be traps for the unwary

25 July 2017
In the lead up to 30 June no doubt cash flows and taxation projections were a focus for many SME owners.  One of your plans could have been to contribute a sum of cash into superannuation and claim a tax deduction. 

Self Employed - Boost Your GESB Super with PAYG from the WA State Government

26 June 2017
If you are a former employee of the WA State Government and now earn your living through your own business, you’ve probably been enjoying some of the pay-offs of the contributions rules afforded to you as a result of being a member of the GESB West State Super Fund.

Impending Superannuation Changes

22 June 2017
On the eve of the new financial year let’s take a look back on some of the key Superannuation Changes that will begin to affect people from 1st of July 2017. In some cases, you’ll need to take action well before then.

Aged Pension | Tip #3: Centrelink Benefits of Prepaying Your Funeral

16 June 2017
More than 430,000 Australians have suffered a partial or total loss to their Centrelink Aged Pension due to the changes to the Asset Test that took place in January 2017.

5 superannuation tips to check before June 30

10 June 2017
With 30 June fast approaching now is the time for you to take action on the superannuation reforms and other general end of financial year issues with these five superannuation tips.   Are you ready?

Last Chance to Sell Down Chunky Investments for Retirement Using GESB West State

9 June 2017
Do the latest changes to Super present the last opportunity for former WA State Government employees, to capitalise on their West State Super before retiring?

Seven tax planning tips to help your small business with a 2017 tax plan

7 June 2017
With the end of yet another financial year fast approaching, now is the final chance for small businesses to get their 2017 tax planning in order.

How much money do I need to start a self-managed super fund (SMSF)?

5 June 2017
  The decision to take control of your superannuation is not a simple one, with many factors to take into account, such as the minimum balance required.

Off-Farm Super Investment Options

2 June 2017
Investing in assets off-farm and away from your agribusiness can be a worthwhile strategy to diversify risk.

GESB West State Super - actions for self-employed members

29 May 2017
Are you a self-employed GESB West State Super member? You may be entitled to unique benefits, but act now before they disappear after the 30 June deadline.

GESB West State Super - what changes are coming?

29 May 2017
Super Changes affecting GESB West State members are coming from 1 July 2017. Find out from one of RSM's GESB superannuation specialists what to do before the 30 June deadline.

Superannuation

29 May 2017
Superannuation rules, regulations, and opportunities continue to evolve in 2017. Despite the limitations that have come into effect, for most Australians there are still plenty of opportunities to maximise superannuation.

Last chance for self-employed to maximise super contributions to GESB

8 May 2017
If you’re a doctor, engineer or teacher who has previously worked for the West Australian State Government, you may be aware of the changes to superannuation that will significantly impact one of the best retirement strategies available to you since John Howard’s $1m boom.

Three ways to boost your super from July 2017

22 March 2017
Could the rule changes that recently took place to Super actually present you with some great opportunities to build your retirement wealth from July 2017?

Superannuation Changes - Your questions and our answers | Part 2

2 March 2017
Following on from Part one of Superannuation Changes -  Your questions and our answers, below we explore some other key questions regarding Capital Gains Tax Relief, Estate Planning and Contribution Issues.  

Superannuation Changes - Your questions and our answers | Part 1

2 March 2017
Below we explore some of the most common questions our team has been asked about the upcoming changes. Part one hones in on concerns around the Transfer Balance Caps.Part Two examines other key areas.

New superannuation legislation – where do you stand?

18 October 2016
Government releases more superannuation legislation