Units trusts and cost base resets under the TBC

Units trusts and cost base resets under the TBC

The new superannuation laws have recently been passed by the federal government.1 The new laws include the introduction of the transfer balance cap (TBC). The TBC limits the amount a member can transfer into a pension account in a super fund. The initial cap will be $1.6m.

Recent Tax and Regulatory Developments Affecting SMSF Audit

Recent Tax and Regulatory Developments Affecting SMSF Audit

All references in this paper are to the Superannuation Industry (Supervision) Act 1993 (SIS Act), the Superannuation Industry (Supervision) Regulations 1994 (SIS Regs) and the Income Tax Assessment Act 1997 (ITAA97) and the Income Tax Assessment Act 1936 (ITAA36) unless otherwise stated.

Seamlessly Integrating Superannuation into Effective Estate Planning

Seamlessly Integrating Superannuation into Effective Estate Planning

This paper examines how to incorporate super into the succession process. In particular, the use of BDBNs and reversionary pensions and the interaction between the two and the succession of the super fund trustee is examined.