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Article archive
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Quarter 4 October - December 2023
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Quarter 4 October - December 2014
Quarter 1 of, 2022 archive
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Undisclosed income risks hefty asset betterment assessments
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Superannuation Guarantee (SG) increases
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How stress and burnout are different, and why the difference is important
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ATO releases new draft guidance products impacting private trusts
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Extension in minimum drawdown rates
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Extension of the bring-forward age up to 67
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Increase in the number of SMSF members
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Single Touch Payroll (STP) – Phase 2
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ATO reiterates tax system incentives
Accessing superannuation benefits.

Common conditions of release include the fund member having reached preservation age and retired, or commenced a transition-to-retirement income stream; ceasing an employment arrangement on or after the age of 60; being 65 years old even though they haven’t retired; or having died.

.

Alternatively, under special circumstances, some benefits may be available where the fund member: -

•       has terminated gainful employment;

•       is temporarily or permanently incapacitated;

•       is suffering severe financial hardship;

•       meets conditions for compassionate grounds;

•       has a terminal medical condition; or

•       is taking part in the first home super saver scheme.

The Australian Taxation office is aware of scams and improper access, and will continue targeting Self-Managed Super Funds and their trustees.

It is the trustees responsibility to take care and always be prudent.

 

 

 

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