Super funds that are not 100% in pension mode, must apportion expenses to the extent that the expense relates to assessable income earned and exempt income earned. Broadly speaking, expenses incurred in relation to earning assessable income are generally deductible (s8-1), if they are incurred...
Often accountants, due to their generous nature, try to avoid obtaining an actuarial certificate by manually apportioning income and expenses. However, where a member is accessing a transition to retirement pension and contributing to the fund, this method of apportionment is not a true segregation...
Yes, if on 1 July you were 64 years of age, you then turn 65 later in the year and then make the $450,000 contribution. However, if you have turned 65 during a financial year, then in order to make super contributions you must satisfy...
SISR 1.06(9A) which states that the provision of a pension will meet the pension standards if the rules of the superfund ENSURE that the pension is paid at least annually and ENSURES that the pension is at least the minimum payment amount for that financial...