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Recorded Webinars

Recorded Webinar: Make Sure You Don't Short Change Yourself: Minimum Payments for Super Pensions

SMSFs in pension mode can attract generous tax concessions for the fund and the member. However, these concessions do come with conditions, one being satisfying the minimum pension amount required to be withdrawn each year. This session looks at the requirements and consequences o
PRESENTED BY Graeme Colley SMSF Technical Expert - Graeme Colley , Sydney

Date/Time

About the Webinar

SMSFs in pension mode can attract generous tax concessions for the fund and the member. However, these concessions do come with conditions, one being satisfying the minimum pension amount required to be withdrawn each year. This session looks at the requirements and consequences of falling short, including:

  • How the minimum annual payment is calculated, including:
    • for pensions commencing during a financial year
  • Planning for the end of the temporary minimum payment reduction period
  • What are the consequences if the minimum payment requirements are breached? (TR 2013/5)
  • Are there any circumstances where a pension is allowed to continue even though the minimum pension amounts have not been met?
  • Does the fund lose its exempt current pension income tax treatment on the death of a member who was in receipt of a pension from the fund?
  • How should a member approach a request to withdraw a lump sum from the fund whilst receiving a pension?
  • Are there entries to account for in a member’s personal transfer balance account if the minimum pension payment amount is not met?
  • Practical examples

Presented By

Graeme Colley
SMSF Technical Expert, Graeme Colley Sydney, NSW

Graeme Colley is a well-known figure in the SMSF community with a long-standing reputation as an accomplished educator, technical expert and advocate for the sector. He is currently an ambassador for the Auditors Institute and brings over 30 years of taxation and superannuation experience gained from senior positions in the Australian Taxation Office (ATO), as an Assistant Commissioner of the Insurance and Superannuation Commission and as a director, technical and professional standards at the SMSF Association. Graeme's experience also extends to a number of leading fund managers and consultants, including Macquarie Bank, Mercer, the Institute of Chartered Accountants in Australia and New Zealand, National Technical Manager at OnePath and as Executive Manager, Technical and Private Wealth at SuperConcepts. The roles included formulating and implementing policy, developing legislation and providing high level technical advice.

Graeme is also a joint author of publications including the CCH Master Financial Planning Guide and Financial Planning in Australia which is published by Lexis Nexis. His academic experience extends to lecturing in the ATAX Masters course at the University of NSW and in the Master of Commerce (Financial Planning) course at the University of Western Sydney. Graeme is a SPAA Specialist Advisor and a Member of the Institute of Chartered Accountants in Australia.

Who Should Attend?

This webinar is suitable for accountants advising in superannuation matters – Australia wide. This webinar is for practitioners who would like to gain some knowledge or improve their knowledge in this area.

CPD Information

Accountants can claim up to 1 CPD hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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