Craig Day, Alex Denham and Richard Chen answer our question of the month, which discusses a situation where a couple get together later in life and both own their own home. Who can make a downsizer contribution and in respect of which home? Hosted on Acast. See acast.com/privacy for more information.
When a client passes away an option for their spouse is to take their death benefit in the form of an income stream, such as an account based pension. However, these death benefit pensions have a number of rules and issues associated with them that can unexpectedly catch advisers out from time to time. Hosted on Acast. See acast.com/privacy for more information.
Craig Day, Tim Sanderson, Linda Bruce, Kim Guest and Peter Wheatland discuss the latest technical news including the increase to deeming rates, economic roundtable, consultation on retirement income streams and ATO warnings on accessing super on compassionate grounds.For more information, see Latest News on the FirstTech site Hosted on Acast. See acast.com/privacy for more information.
Craig Day and Kim Guest discuss whether a company director can meet the retirement condition of release by terminating their position as a director of a private company. Hosted on Acast. See acast.com/privacy for more information.
Craig Day and Linda Bruce explore key components of individual tax returns that must be accurately completed to ensure the effective implementation of financial planning strategies recommended by advisers. Hosted on Acast. See acast.com/privacy for more information.
Craig Day, Richard Chen and Kim Guest discuss the latest technical news including recent Bills introduced to the new Parliament, proposed changes to Total Super Balance from 1 July 2025, waiving social security debts relating to commuting legacy pension and much more... Hosted on Acast. See acast.com/privacy for more information.
Craig Day, Sina Heng and Linda Bruce discuss the ins and outs of varying notices of intent to claim a super deduction.In this podcast they cover increasing and decreasing the amount claimed as a deduction, as well as timing issues that can cause things to go wrong.For more information: FirstTech Did You Know Can you increase the amount claimed in a notice of intent? Hosted on Acast. See acast.com/privacy for more information.
Craig Day and Tim Sanderson discuss the proposed Division 296 tax.FirstTech have received many questions regarding clients who have decided they want to withdraw funds from super to avoid the tax, but are unsure of the best time to make the withdrawal to reduce possible capital gains tax liabilities.For more information: FirstTech article The proposed Division 296 tax - how the new tax is likely to work Hosted on Acast. See acast.com/privacy for more information.
Craig Day, Tim Sanderson, Richard Chen and Kim Guest discuss the latest technical news including Transfer Balance Cap indexation displaying on myGov, deferral of aged care changes to 1 November, 20% reduction in student HELP debts, scams targeting Centrelink recipients and super members, and how to order FirstTech Guides for 2025/26.For more information, see Latest News on the FirstTech site. Hosted on Acast. See acast.com/privacy for more information.
Craig Day and Linda Bruce unpack the top 6 questions advisers commonly ask about the popular strategy of splitting concessional super contributions Hosted on Acast. See acast.com/privacy for more information.
Craig Day, Kim Guest and Peter Wheatland discuss the latest technical news including an update on the proposed Division 296 tax, guidance issued by the FAAA on the deductibility of financial advice fees, the Centrelink deeming rate freeze and 3 tips to make the end of financial year go smoothly.For more information see the FirstTech article 2024-25 end of financial year strategies Hosted on Acast. See acast.com/privacy for more information.
Craig Day is joined by SMSF Association CEO Peter Burgess to unpack the revived Division 296 super tax proposal.In this episode they clarify how the tax works, including the controversial inclusion of unrealised capital gains, and what advisers need to consider now. Hosted on Acast. See acast.com/privacy for more information.
Craig Day and Kim Guest discuss the process of updating investment balances with Centrelink, including account based pensions, super in accumulation phase, shares, managed funds and bank balances.Does a client need to update Centrelink or does Centrelink receive the updated values automatically? Hosted on Acast. See acast.com/privacy for more information.
Where an SMSF paying an account based pension fails the pension standards such as not paying the minimum annual payment, it can have significant consequences.The can include increased fund tax liabilities and the merger of a members different super interests. In addition, following recent ATO guidance it could also trigger a range of transfer balance cap issues and require trustees to navigate significant additional complexity. Hosted on Acast. See acast.com/privacy for more information.
In this special edition of Latest News, following the Federal Election we delve into the winning parties policy announcements that impact financial advice, including taxation and housing policy. Hosted on Acast. See acast.com/privacy for more information.
As we approach the end of the financial year, it's a great time to review year-end super strategies and get ready for the new financial year. Craig Day and Linda Bruce. Hosted on Acast. See acast.com/privacy for more information.
Craig Day, Tim Sanderson, Alex Denham and Kim Guest discuss the latest technical news including Payday Super, aged care reforms and lifetime income streams. Hosted on Acast. See acast.com/privacy for more information.
Craig Day and Tim Sanderson discuss the minimum annual payment requirements for account based pensions in a variety of circumstances including partial commutations, full commutation and rollover, or where a client dies part way through a financial year.For more information see the FIrstTech article Minimum payment requirement when commuting account-based pensions. Hosted on Acast. See acast.com/privacy for more information.
Craig Day and Hayley Mitchell (Coopers Grace Ward), delve into the details of Enduring Powers of Attorney, covering the scope of authority granted to the attorney, as well as the limitations on their actions. Hosted on Acast. See acast.com/privacy for more information.
Craig Day, Tim Sanderson and Kim Guest discuss new regulations which allow members receiving non-commutable legacy income streams, including complying Term Allocated Pensions (TAPs), to fully commute and exit their income stream within a five-year amnesty period.For more information see the FirstTech article Commuting a TAP under legacy pension amnesty rules Hosted on Acast. See acast.com/privacy for more information.