www.esuperfund.com.au

2017 January Client Newsletter


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Issue 34 | 15 January 2017
 
 

Happy New Year and welcome to ESUPERFUND's first Newsletter of 2017!


In this issue, we remind you of the upcoming tax return due date in February and we share some client stories of how they bought property through their SMSFs. Lastly, we highlight the preservation age and conditions of release when accessing your super benefit.


Mark Needham

Client Services Manager

Feature

28 February Tax Return Due Date is coming!

If your SMSF meets either of the below criteria, then the annual tax return is due for lodgement by 28 February 2017. Otherwise, the due date in most other cases is 15 May 2017.

  •  
     
    If your SMSF was established between 1 July 2015 and 30 June 2016
  •  
     
    If your SMSF was established between 1 July 2014 and 30 June 2015 but the first transaction was made between 1 July 2015 and 30 June 2016

You can check the tax return due date for your SMSF by logging into the Client Portal and visiting the "Compliance" page.

If you established your SMSF before 01 July 2016 and have not submitted the checklist, please submit the checklist at your earliest convenience.

What's New

ESUPERFUND Client Stories - Property Investments through an SMSF

Our clients, Catriona and Fernando, recently shared with us their experiences of investing in property through their SMSFs.

To read their stories, you can visit our website at https://www.esuperfund.com.au/why-us/casestudy.

If you would like to learn more about purchasing a property with borrowings in your SMSF, you can refer to our website at https://www.esuperfund.com.au/property/borrowing/residential-property for detailed information.

Should you also be interested in sharing your experiences of how you self-manage your super, please feel free to let us know and we will be in touch!

Do You Know?

Preservation Age and Conditions of Release

When can you access your super?

To withdraw your super benefit from your SMSF, generally you must satisfy one of the conditions of release unless you have unrestricted non-preserved super benefit which is allowed to be withdrawn at any time.

The most common conditions of release for accessing super benefit are that the member:

  •  
     
    is aged between preservation age and 64, and retired, or
  •  
     
    has reached the preservation age and commenced a transition-to-retirement income stream, or
  •  
     
    is aged over 65 (even if not retired).

Please click here to work out your preservation age.

Date of birth Preservation Age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
From 01 July 1964 60

Can I access my super benefit before preservation age?

Usually No. However, in some special circumstances at least part of a member’s super benefit can be accessed before the member has reached preservation age. These are:

  •  
     
    Termination of Gainful Employment
  •  
     
    Permanent Incapacity
  •  
     
    Temporary Incapacity
  •  
     
    Severe Financial Hardship
  •  
     
    Compassionate Grounds
  •  
     
    Terminal Medical Condition

The member must make sure that a condition of release or the early access requirements have been met before accessing any super benefit. There are specific restrictions on how much you can access under some early access circumstances.

Please visit our website to read more about Early Access.

Testimonials

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I established my SMSF with ESUPERFUND in 2010. The process to establish the fund was straightforward and explained step-by-step by ESUPERFUND. The compliance process is super-simple with all accounts and trading platforms linked, resulting in minimal manual information entry. The fees are also excellent value. I would and have recommended ESUPERFUND to many friends and colleagues.

 
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