Cavendish Superannuation administers Self Managed Super Funds for clients of over 800 financial advisers throughout Australia. As part of our ongoing service our Technical Services team provides valuable specialist information in response to adviser SMSF enquiries. An important facet of this service is the publication of Technical Updates which are available for download below.

To enhance their technical value to advisers and their trustee clients we endeavour to choose topics of particular interest at any point of time and not replicate issues that dealer groups, the FPA and the general financial press might cover.

If you would like to receive future Technical Updates via email please email technical@cavendishsuper.com.au of your name, adviser group, company name and email address and we will add you to our distribution list.

Archives 

30 June 2012 Review 

As 30 June 2012 approaches there are a number of important issues that all Trustees should be aware of. This fact sheet summarises the key issues of contributions and pensions and outlines the new requirements relating to collectable assets introduced during the year.
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2012 Federal Budget Special
The 2012/13 Federal Budget did not provide too many surprises but had a sting in the tail for high income earners and those aged 50 or over wanting to contribute to their superannuation fund.

In this bulletin we outline the announcements made by the Government highlighting the impact they and previous announcements will have on an individual’s superannuation entitlement.
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2011 in Review – the good, the bad and the ugly
 
With 2011 coming to a close it is time to reflect on some of the announcements and changes that will impact for better or worse on the SMSF industry.

In this bulletin we review the major releases from 2011 and look at the impact they may have on SMSFs.  As many of the releases and much of the proposed legislation have not reached a final conclusion we will provide more information as matters are resolved throughout 2012.
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Pre 30 June Review
The Budget is now behind us and 30 June is upon us so it is time to ensure you dot all the i’s and cross all the t’s as the ATO have little tolerance for those who over contribute and under pay pensions.

In this bulletin we will review the contribution cap rules and what action can be taken to minimise the impact of over contributing. We also look at the consequence of a SMSF paying insufficient pension or too much “transition to retirement” pension.
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2011 Federal Budget Special
The 2011/12 Federal Budget was fairly light on new announcements that directly affect SMSFs, which is a welcome relief, however there were some significant issues that will impact a large number of Funds and in some instances all SMSFs. 
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Account-based Pensions – Consider Your Options
Paying an Account based pension from a SMSF is a relatively simple task for Trustees, however there are a number of events that add complexity which if not handled correctly can create problems. This bulletin addresses the issues associated with taking a lump sum from a pension via a commutation and the inevitable issue of what happens to a pension when the member dies. 
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SMSF End of Financial Year Review (Issue 2-2010)

As each Financial Year draws to a close there are a number of issues Trustees of a SMSF need to take into consideration. Our latest Technical Bulletin highlights a couple of key issues that should be reviewed with a particular focus on pension withdrawals and contributions
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Pension Assets and CGT (Issue 1-2010)
Our latest Technical Bulletin focuses on the issues surrounding transferring assets from a SMSF paying a pension. We examine when CGT will apply and what opportunities exist to reduce the Fund’s tax liability and increase the Member’s rollover balance.
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Accepting Superannuation Contributions (Issue 4-2009)
Our latest Technical Bulletin focuses on the draft Taxation Ruling released by the ATO in June this year regarding superannuation contributions. The bulletin reviews the definition of a contribution and outlines how and when a contribution is made.
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Budget Special (Issue 3-2009)
Our latest Technical Bulletin focuses on the 2009/2010 Budget. There were no unexpected announcements made in the Budget however there were a number of issues worth noting for your clients that may be of assistance, particularly for those in retirement
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Australian Superannuation Fund (Issue 2-2009)
The ATO recently released Taxation Ruling 2008/9 – The meaning of ‘Australian superannuation fund’. The attached bulletin revisits the issues previously identified for SMSF trustees travelling abroad and gives greater clarity to the requirements to maintain a Resident Superannuation Fund
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Opportunities in a Depressed Market (Issue 1-2009)
The current financial crisis has many long term SMSF portfolios down in value over the past 12-18 months. With attention focussing on the negative impact we have highlighted some potential strategies for a fund transitioning to a pension or maintaining pension and accumulation interests.
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Deductions for Death Disability (December 2008) 
Our latest Technical Bulletin looks at the various tax tips and traps when paying a death benefit and identifies some deductions available to SMSFs. 
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Transition to Retirement (September 2008)
In our latest issue we look at Transition to Retirement pensions and the effect of declining investment values to ensure members don’t exceed the 10% drawing maximum from 1 July 2008. We revisit the rules associated with paying a Transition to Retirement pension and highlight the issues Trustees & Members should be aware of... 
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Related Party Acquisitions (July 2008)
Self Managed Superannuation Fund (SMSF) Trustees acquire assets from related parties on a daily basis but are they aware of the restrictions placed on related party acquisitions and the consequences of breaching the rules of such a transaction. We examine what constitutes an acceptable related party acquisition and some handy steps to take to ensure you don t wear the wrath of the Fund Auditor or the Australian Taxation Office... 
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Contribution Limitations - If the "CAP" fits (March 2008)
The introduction of contribution caps announced in May 2006 has the greatest potential to impact on members future retirement benefits. We address the consequences of exceeding the concessional and non-concessional contribution caps and provide some guidance to ensure maximum contribution benefit.. 
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Borrowing within a SMSF - The New Instalment Warrants (January 2008)
Recent amendments to the Superannuation Industry (Supervision) Act 1993 ("SIS Act"), effective from 24 September 2007, now permit superannuation funds to borrow money of a limited recourse nature for investment purposes in certain circumstances.... 
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Transitioning to the New Superannuation World (June 2007)
As 1 July approaches there are a number of issues leading into and moving beyond the new superannuation regime that you should be aware of. We have highlighted the issues that most affect members of Self Managed Superannuation Funds (SMSF).
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Investing in Collectibles (May 2007)
Many Self Managed Super Fund (SMSF) Trustees are attracted to the idea of investing in collectables. Whilst collectables are not elaborated on in
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Expatriate Trusteeship (December 2006)
Whether it is the allure of foreign soil, corporate restructure or just the need to try something different, more and more people are giving consideration to the opportunity of travelling or working overseas.
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Post-Budget Decisions Update (September 2006)
Once the dust settled after the surprise announcement to simplify and streamline the Superannuation on Budget night 9 May 2006, the public were given the opportunity to provide the Government with their feedback.
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2006/07 Budget Special (May 2006)
The Government has a knack of pulling superannuation rabbits out of their budget hat and the 2006-07 Budget was no different. 9 May 2006 may well be remembered as a landmark day in superannuation history...
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Splitting Under the Knife (April 2006)
In mid December 2005 a milestone in the history of the Australian superannuation system was reached with the timely passing of the Tax Laws Amendment (Superannuation Contributions Splitting) Bill 2005, resulting in the commencement of superannuation contribution splitting...
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Commencing Pensions Before Retirement (November 2005)
You can start your pension before you retire and still come out on top! Essentially the new regulations provide added flexibility for accessing superannuation and altering existing superannuation arrangements for taxpayers who have reached preservation age.
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Arranging Insurance Within an SMSF (October 2005)
A recent survey found that Australians in general have inadequate levels of personal risk insurance held both inside and outside of superannuation. The result also highlighted that nearly one third of respondents held no personal risk insurance!
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Property Development Within an SMSF (September 2005)
We have received a number of enquiries in the past few months in relation to Self Managed Super Funds (SMSFs) undertaking solely or participating with other parties in property development.
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