Technical Summit 2020
Join Liam and Jemma in this session as they cover:
- Pension decisions for 2020/21 under the Temporarily Reduced Minimum Pension Payments Covid-19 relief;
- Assessing client’s income needs;
- Assessing opportunities to reduce Taxable components and reduce TBAR balance;
- Income options where there is only 1 pension account per member;
- Income options where there are more than one Pension Accounts;
- Income options where there are Pension and Accumulation Accounts;
- Which is preferred TBAR Debit v using Accumulation;
- Minutes to facilitate decisions;
- Consideration of Reversionary v Non-Lapsing Binding Death Benefit Nominations, and;
- Transition to retirement – Accumulation Phase, are they still worthwhile?
At the end of the session, you will be able to:
- Understand how to meet client’s income needs for 2020. Understanding the options available to optimise the client’s tax components and TBAR and what documents are needed to implement decisions;
- Understand the options of Reversionary v Non-Lapsing Binding Death Benefit Nominations, and;
- Understand strategies using a Transition to Retirement pension – Accumulation Phase.
The contents of this resource are taken to be correct at the time of publication.
Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association