Contents Basic Considerations for a Member Voluntarily Commuting an Income Stream The Requirements to Voluntarily Commute an Income Stream Mandatory Commutation Imposed on the Superannuation...
Superannuation Articles
Total Superannuation Balance
Contents What is Total Superannuation Balance? How is Total Superannuation Balance Calculated? Strategies to Manage Total Superannuation Balance What is Total Superannuation Balance? Total...
Transfer balance cap
Contents What is the transfer balance cap? What is a retirement phase account? What is an individual’s transfer balance limit? What is a transfer balance account and what role does it play? Transfer...
Income stream
Contents Minimum standards applicable to an income stream Tax outcomes When does the income stream end? Super fund compliance requirements When a superannuation fund member satisfies a condition of...
Super Death Benefit
Contents Taxation of death benefits to dependant Taxation of death benefits to non dependant Death benefits paid to trustee of deceased estate Issues related to the transfer balance cap A...
First Home Super Saver Scheme
Contents Eligibility and conditions FHSS determination Failure by individual to enter into contract to purchase or construct a home The First Home Super Saver Scheme (FHSS Scheme) was launched to...
Ordinary Time Earnings
What is ordinary time earnings?OTE is the amount paid to employees for their ordinary hours of work. OTE includes payments such as commissions and shift loadings. Employers use: Ordinary time...
Super Contributions
Types of super contributionsEmployers are required to pay super guarantee (SG) contributions for their employees. For the 2023-24 financial year, employers are required to contribute 11% of their...
Departing Australia Superannuation Payment
Contents What is a Departing Australia Superannuation Payment (DASP)? DASP eligibility Finding your superannuation Application process for DASPS Handling additional contributions Specific cases of...