07 5451 1118 With the end of the financial year approaching it is important that you make sure everything is in order in your Self Managed Superannuation Fund.
A couple of items to review are as follows:
- Is your tax for the 2014 financial year lodged and paid?
- Have you paid your minimum pension payments
See the table below of payments that are required if you are over 60 and have an Account Based Pension:
| Age |
Minimum % withdrawal |
Maximum % withdrawal- TRIS |
| Under 65 | 4% | N/A |
| 65–74 | 5% | N/A |
| 75–79 | 6% | N/A |
| 80–84 | 7% | N/A |
| 85–89 | 9% | N/A |
| 90–94 | 11% | N/A |
| 95 or more | 14% | N/A |
If you are under 60 or have a transition to retirement income stream your maximum pension will be 10%.
- Investment Strategy
Have you continually reviewed an updated your investment strategy during the year?
- Valuation of investments
If you have property investments it is important that you have a written valuation for the 30th June.
- Contributions
Have you reviewed the contributions made to the fund during the year to ensure that no members have excess contributions?
If any of these appear to be an issue please contact us and we can correct items before the 30th June to ensure that your Fund is compliant.
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