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Query reasons for trustee transactions
SMSF practitioners should be wary of the motivations of trustees who openly state the goal for their fund is to gain a benefit that runs counter to the sole purpose test (SPT), an SMSF technical...
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Set rules for CGT retirement exemption
An SMSF technical specialist has reminded practitioners of the specific rules applying to individuals under age 55 wanting to make contributions under the small business capital gains tax (CGT)...
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Age pension falling short
A recent study has revealed most retirees and pre-retirees believe the age pension is inadequate to meet their retirement needs, leading many to consider working for longer, while being open to using...
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Retirement funding sources to evolve
A study examining how Australians expect to fund their retirement and how retirees actually finance their post-work lives has found while superannuation savings remain key, many will rely less on the...
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Australians forgoing retirement advice
Almost half of Australians have not consulted any information to plan for their retirement and of those who do, less than 50 per cent have sought professional advice, according to new research from the...
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Trustees retiring earlier with more
SMSF trustees are transitioning into retirement earlier with larger member balances than their counterparts in retail funds, according to new research released by Class. In its “2024 Annual Benchmark...
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Age pension fails to meet retirement needs
New research has found most Australians believe the age pension is insufficient to fund their retirements, with larger superannuation balances and access to professional financial advice linked to...
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Role change is not retirement
A superannuation specialist has stipulated a change in employment conditions for an individual will not satisfy a condition of release with regard to attaining retirement status, even if they have...
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Gain or reward key to proof of work
The termination of a gainful employment opportunity can only fit the definition of retirement with regard to satisfying a condition of release if that particular work situation involved a gain or...
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More seniors working in retirement years
New research has challenged the traditional notion of when Australians expect to retire, showing one-third of seniors aged 65 and over continue to work in a full or part-time capacity, largely driven...
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