Death and Incapacity – Who is in control of your SMSF?

With many trustees citing ‘control’ as one of the primary reasons for establishing an SMSF, there are many SMSF trustees that have failed to address the ‘what if’ scenario. It is important that you plan what would happen to your SMSF assets, and who would have control if you and/or your spouse were both incapacitated, or no longer alive. There are many disputes and legal battles around money and SMSFs (particularly amongst siblings when their parents have passed), that could be avoided with better planning.

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Bring Forward Contributions

The ability to bring-forward future year entitlements to make non-concessional contributions has been in place for many years now. Prior

Understanding super terminology

An individual’s Transfer Balance Cap (TBC) and Total Superannuation Balance (TSB) are calculated differently and are separate concepts. When the

Excess Concessional Contributions

The concessional contribution cap is $30,000 from 1 July 2024. With the ability to carry forward unused concessional contributions over

Excess Non-Concessional Contributions

The non-concessional contributions cap is $120,000 from 1 July 2024, however the ability to contribute to super is dependent on

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