This guide comprehensively reviews the superannuation laws, taxation laws and general law issues that relate to the commencement, maintenance and ultimately the cessation of SMSF income streams.
Author Peter Slegers, CTA is joined by Joshua Pascale and Daniel Marateo in producing the third edition of the Guide.
Exploring many of the related practical issues that impact on SMSF income streams, such as estate planning laws, asset protection, this edition also covers strategies for accessing wealth from existing business and investment structures to fund income streams.
The guide highlights a number of legal and regulatory developments that have arisen since the publication of the first edition in March 2017, and May 2018's second edition. It also details emerging practice trends and strategies that have developed as advisers and trustees become more familiar with the transfer balance cap regime.
The third edition includes material on the following areas:
- life insurance proceeds used in conjunction with income stream death benefit strategies;
- contribution reserves in the context of the Commissioner’s recent concerns;
- commentary on correcting underpayments of minimum annual pension amounts;
- revisiting the use of non-reversionary pensions to achieve succession planning objectives;
- further commentary on the developing role of attorneys in SMSFs;
- an update on the Commissioner’s view on the conversion of a TRIS into a retirement phase income stream;
- developments on the downsizer contribution rules in light of recent ATO pronouncements; and
recent case law in the context of BDBNs
This guide will be of relevance to SMSF professionals at all levels of experience, including:
- licensed accountants, financial planners and SMSF auditors;
- SMSF administrators; and
- solicitors practising in estate and succession planning law.
The guide addresses provides comprehensive case studies, as well as practice tips and planning aids for the busy SMSF adviser.
The third online edition incoporates changes that were known as at 30 April 2019.
The annual online subscription includes:
- 12 months of unlimited access to the online book; and
- interactive eLearning with reference links back to the online book (2 structured CPD hours).
Also available on the Tax Knowledge eXchange
Subscribe to the Tax Knowledge eXchange with our online books option and you'll receive full online access to the SMSF Income Stream Guide, nine other practical guides and handbooks, a host of additional content and up to 32 CPD hours.