NEWS

SMSF insurance planning is often overlooked but it can significantly enhance fund value for members or beneficiaries as well as create substantial long-term tax savings, an industry leader said. David Busoli, principal of SMSF Alliance, said at the SMSF Association national conference last month that while there are complications around holding life insurance in a separate APRA-regulated super fund while operating an SMS, there is also a future service benefit deduction. Buso

large capital gain from the sale of an investment property, shares or managed funds is an ideal scenario to take advantage of concessional and catch-up contributions, a superannuation specialist said. Scott Brown, superannuation specialist with MLC, said on a recent webinar that catch-up concessional contributions allow individuals with unused super contribution caps and a super balance under $500,000 to contribute more to super in certain years. He said this strategy is espe

There is a critical distinction between pensions and income streams and the two are not interchangeable, a leading technical specialist said. Lyn Formica, head of education and content for Heffron Consulting, said incorrect language in relation to pension and income streams can lead to incorrect tax treatment, and compliance issues. Speaking at the SMSF Association national conference, Formica said if the minimum pension requirements are not met, a pension may still legally e