FirstTech Podcast

Payday Super - Impact on contribution strategies

Tue, 31 Mar 2026 23:14:40 GMT

From 1 July this year, the new Payday Super reforms come into effect which generally require employers to make SG contributions at the same time as they pay salary and wages.

This change could have implications for advisers and their clients where it results in an increase in concessional contributions, as it could cause them to inadvertently exceed their concessional contribution cap in future years.

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Q&A: End of financial year super strategies

Tue, 31 Mar 2026 23:10:56 GMT

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.

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Latest News - March 2026

Tue, 31 Mar 2026 23:08:35 GMT

Craig Day, Tim Sanderson, Linda Bruce and Richard Chen discuss the latest news:

Upcoming Federal Budget
Division 296 tax - latest developments
Personal Services Income and trusts - ATO update
Payday Super - contribution cap implications

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The latest Division 296 tax proposal

Wed, 04 Mar 2026 21:18:18 GMT

Craig Day and Tim Sanderson discuss the recently introduced Division 296 tax bill which proposes to levy additional taxes on the superannuation earnings of members with total super balances in excess of $3m.

While some aspects of the new Bill are similar to the original proposals, the proposed new rules also include some significant changes, which will have important implications for clients and their advisers.

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Latest News - Feb 2026

Wed, 04 Mar 2026 21:14:30 GMT

Craig Day, Tim Sanderson, Alex Denham and Kim Guest discuss the latest technical news:

Indexation of the transfer balance cap from 1 July 2026 - things to watch out for
Indexation of the contribution caps - potential strategy opportunities
Brief discussion on Division 296 bill currently before Parliament
Increase to Centrelink deeming rates on 20 March
Recent report on Support at Home waiting times

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Question of the month: Why does my client have excess non-concessional contributions?

Tue, 09 Dec 2025 21:06:58 GMT

Craig Day and Kim Guest answer our question of the month, which discusses situations where a client receives an excess non-concessional contribution determination and are trying to figure out what went wrong. The answer may surprise you.

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Transfers from foreign retirement schemes that are not foreign super funds

Tue, 09 Dec 2025 21:04:29 GMT

A client who has lived and worked outside Australia may have an overseas retirement scheme they wish to transfer to an Australian super fund or bank account. If the overseas retirement scheme qualifies as a foreign super fund, a lump sum transfer from the scheme can receive tax concessions under the Australian tax law. However many overseas pension schemes, such as the mainstream retirement plans in the US and Canada, are treated by the ATO as foreign trusts, as they fail to meet the definition of a foreign super fund. Craig Day and Linda Bruce discuss the taxation implications.

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Latest News - November 2025

Tue, 09 Dec 2025 20:59:25 GMT

Craig Day, Sina Heng and Kim Guest discuss the latest technical news:

Will the general transfer balance cap increase on 1 July 2026?
Where are the proposed changes to Division 296 tax up to?
Proposed changes to LISTO
ATO private ruling on whether an adult child qualifies as a tax financial dependent for super death benefit tax purposes
Updates to the government's My Aged Care website

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Significant changes announced to Division 296 tax proposal

Tue, 04 Nov 2025 05:35:40 GMT

On 13 October 2025, the Treasurer announced significant changes to the yet to be legislated Division 296 tax rules – which proposes to tax the earnings attributable to a person’s total super balance over $3m at higher rates.

In this podcast we discuss the proposed changes, what they could potentially mean for impacted members and funds, and outstanding uncertainties where further clarity is needed.

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Latest News - October 2025

Tue, 04 Nov 2025 05:33:33 GMT

Craig Day, Linda Bruce, Richard Chen, Alex Denham and Kim Guest discuss the latest technical news including changes announced to the proposed Division 296 tax, Payday Super, super releases under compassionate grounds, ATO directing SMSF trustees to undertake education and 1 November 2025 aged care changes.

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Question of the month - What happens when a SMSF trustee undertakes work for the SMSF?

Tue, 04 Nov 2025 05:30:02 GMT

Craig Day and Linda Bruce answer our question of the month, which discusses what happens where a member/trustee of an SMSF undertakes work on a fund asset that they technically need to charge for to avoid the fund incurring a non-arm’s length expense.

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Question of the month - CGT & the Main Residence Trap for Non-Residents

Wed, 01 Oct 2025 03:37:17 GMT

Craig Day and Kim Guest answer our question of the month, which discusses a situation where a client has moved overseas and is considering selling their former main residence in Australia. Will they qualify for the main residence exemption?

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Recontribution strategies: What works, what doesn't

Wed, 01 Oct 2025 03:35:39 GMT

Craig Day and Tim Sanderson discuss one of the most widely used superannuation strategies: the re-contribution strategy.

Done right, this strategy has a number of benefits for many clients. However, get it wrong and it can create frustrating headaches that are hard to fix.

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Latest News - September 2025

Wed, 01 Oct 2025 03:34:00 GMT

Craig Day and Kim Guest discuss the latest technical news including upcoming aged care reforms, ATO corporate plan for SMSFs, update on Division 296 and the deeming rate increase.

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Question of the month: The Ins & Outs of Downsizer Contributions for Couples

Wed, 03 Sep 2025 00:56:24 GMT

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?

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Death Benefit Pensions: The 5 Most Asked Questions

Wed, 03 Sep 2025 00:54:21 GMT

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.

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Latest News - August 2025

Wed, 03 Sep 2025 00:52:19 GMT

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

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Question of the month: Company directors and the retirement condition of release

Fri, 01 Aug 2025 23:41:34 GMT

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.

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Important tax return issues relating to financial planning strategies

Fri, 01 Aug 2025 23:38:57 GMT

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.

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Latest News - July 2025

Fri, 01 Aug 2025 23:33:02 GMT

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...

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Question of the month: Timing & Varying Notices of Intent to Claim Super Deductions

Mon, 30 Jun 2025 00:12:53 GMT

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?

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Division 296 - Super Tax Strategies & Withdrawal Timing

Mon, 30 Jun 2025 00:09:21 GMT

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

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Latest News - June 2025

Mon, 30 Jun 2025 00:04:48 GMT

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.

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Contribution splitting - Frequently asked questions

Sat, 31 May 2025 04:43:29 GMT

Craig Day and Linda Bruce unpack the top 6 questions advisers commonly ask about the popular strategy of splitting concessional super contributions

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Latest News - May 2025

Sat, 31 May 2025 04:41:39 GMT

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

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Division 296 - Where are we now?

Sat, 31 May 2025 04:34:43 GMT

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.

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Updating investment balances with Centrelink: Tips and Timing

Sat, 10 May 2025 08:48:01 GMT

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?

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Consequences of an SMSF failing the minimum pension standards

Sat, 10 May 2025 08:44:16 GMT

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.

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Latest News - Federal Election wrap up and more...

Sat, 10 May 2025 08:24:44 GMT

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.

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End of financial year super strategies 2024-25

Sat, 29 Mar 2025 03:04:53 GMT

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.

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Latest News - March 2025

Sat, 29 Mar 2025 02:58:55 GMT

Craig Day, Tim Sanderson, Alex Denham and Kim Guest discuss the latest technical news including Payday Super, aged care reforms and lifetime income streams.

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Navigating minimum annual pension payment rules

Sat, 29 Mar 2025 02:50:41 GMT

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.

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Understanding Powers of Attorney

Wed, 05 Mar 2025 06:17:17 GMT

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.

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Commuting a TAP under legacy pension rules

Wed, 05 Mar 2025 06:12:42 GMT

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

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Latest News - February 2025

Wed, 05 Mar 2025 06:07:32 GMT

Craig Day, Linda Bruce, Tim Sanderson, Peter Wheatland and Kim Guest discuss the latest technical news.

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Exceeding the non-concessional contributions cap - options

Tue, 10 Dec 2024 01:04:09 GMT

It's that time of year when clients may receive an excess non-concessional contribution determination from the ATO. Craig Day and Tim Sanderson discuss the 3 options that are available for dealing with the excess.

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Latest News - Nov/Dec 2024

Tue, 10 Dec 2024 00:54:16 GMT

Craig Day, Tim Sanderson, Kim Guest, Alex Denham, Richard Chen & Sina Heng discuss the latest technical news:

- What happened in the last days of Parliament

- New Aged Care Act awaits Royal Assent

- Reforms to the retirement phase of super

- Payday super update

- Will the transfer balance cap increase to $2M from 1 July 2025?

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New Tax Determination clarifies deductibility of advice fees for individuals

Tue, 10 Dec 2024 00:50:49 GMT

Craig Day and special guest Tony Negline discuss Tax Determination TD 2024/7, which updates the ATO's view on what part of the cost of advice provided by a financial adviser to an individual client, can be claimed as a tax deduction.

It is important to note this Tax Determination discusses the deductibility of advice fees paid directly by individuals who are not carrying on a business, it does not cover the tax treatment of advice fees deducted from a client’s superannuation account.

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Legacy pension conversions and reserves

Fri, 08 Nov 2024 00:10:49 GMT

Craig Day and Tim Sanderson discuss draft regulations that will allow the commutation of certain non-commutable legacy income streams plus amendments to allow the allocation of any resulting reserve amounts without them counting against a member’s contribution caps.

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Major changes to home care

Fri, 08 Nov 2024 00:08:38 GMT

Craig Day and Kim Guest discuss the new Support at Home program which is proposed to commence 1 July 2025.

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Latest News - October 2024

Fri, 08 Nov 2024 00:07:24 GMT

Craig Day, Tim Sanderson, Linda Bruce & Richard Chen discuss the latest technical news:

- Upcoming Federal Budget

- Accessing super under compassionate grounds

- AAT case: application to disregard or reallocate non-concessional contributions

- Federal court case: Tax impact of receiving a lump sum payout of income protection insurance

- Update on proposed legislation - Aged care & Division 296

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Are TTR strategies still effective?

Tue, 01 Oct 2024 07:14:11 GMT

Craig Day and Tim Sanderson discuss the effectiveness of TTR strategies, taking into account recent changes in concessional caps, SG rates and marginal tax rates.

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Major aged care changes from 1 July 2025

Tue, 01 Oct 2024 07:12:03 GMT

Tim Sanderson and Kim Guest discuss aged care reforms proposed to commence 1 July 2025

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Latest News Sept 2024

Tue, 01 Oct 2024 07:06:51 GMT

Craig Day, Tim Sanderson, Peter Wheatland and Kim Guest discuss the latest technical news.

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How to exclude a small business CGT, personal injury or downsizer contributions from counting towards the NCCs cap

Mon, 02 Sep 2024 02:16:45 GMT

Craig Day, Tim Sanderson and Richard Chen discuss an adviser question regarding the process of making a small business CGT, personal injury or downsizer contribution that does not count towards the NCCs cap.

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Homeloan offset accounts vs redraw facilities

Mon, 02 Sep 2024 02:15:25 GMT

Craig Day, Linda Bruce and Kim Guest compare the taxation and Centrelink implications of homeloan offset accounts vs redraw facilities.

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Latest News - August 2024

Mon, 02 Sep 2024 00:27:45 GMT

Craig Day, Linda Bruce, Tim Sanderson and Kim Guest discuss the latest technical news.

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Latest News - July 2024

Tue, 06 Aug 2024 01:13:50 GMT

Craig Day, Linda Bruce, Richard Chen and Kim Guest discuss the latest technical news.

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Super contributions & the law of mistake

Tue, 06 Aug 2024 01:11:02 GMT

Kim Guest interviews Craig Day regarding the law of mistake and when it may be applied in relation to the return of super contributions.

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Question of the month - Centrelink assessment of multiple funeral investments

Tue, 06 Aug 2024 01:06:13 GMT

Craig Day and Kim Guest discuss an adviser question regarding the Centrelink assessment of multiple funeral investments.

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Salary sacrifice considerations for 2024/25

Mon, 01 Jul 2024 03:28:48 GMT

Craig Day, Tim Sanderson and Linda Bruce discuss some key considerations when planning salary sacrifice contributions in 2024/25.

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Division 296 tax with Peter Burgess

Mon, 01 Jul 2024 03:27:18 GMT

Craig Day interviews Peter Burgess (CEO of the SMSF Association), about the implications of the proposed new Division 296 tax.

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Latest News - June 2024

Mon, 01 Jul 2024 03:18:54 GMT

Craig Day, Tim Sanderson, Linda Bruce and Kim Guest discuss the latest technical news

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Things to do before 30 June

Fri, 31 May 2024 05:54:37 GMT

Craig Day, Linda Bruce and Kim Guest discuss a range of superannuation, tax and compliance issues to consider before 30 June.

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Latest News - May 2024

Fri, 31 May 2024 05:00:06 GMT

Craig Day, Richard Chen and Kim Guest discuss the latest technical news for May 2024.

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The impact of super rollovers on financial planning strategies

Tue, 30 Apr 2024 05:28:59 GMT

Craig Day and Linda Bruce discuss the impact of super rollovers on eligible service periods, and how that can impact the tax treatment of a lump sum disability benefit or death benefit payment.

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Death benefit vs member benefit

Tue, 30 Apr 2024 05:26:25 GMT

Craig Day and Kim Guest discuss the tax treatment when a client requests a super lump sum withdrawal but then dies before the payment is made.

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Latest News - April 2024

Tue, 30 Apr 2024 05:20:28 GMT

Craig Day, Linda Bruce, Kim Guest and Tim Sanderson discuss the latest technical news.

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End of financial year superannuation strategies

Thu, 28 Mar 2024 04:13:59 GMT

Craig Day and Linda Bruce discuss super strategies to implement towards the end of 2023-24, and to prepare for 2024-25.

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Who is a spouse for tax and super purposes?

Thu, 28 Mar 2024 03:59:51 GMT

Craig Day and Alex Denham discuss how to determine whether the beneficiary of a super death benefit is a spouse for super and tax purposes.

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Latest News - March 2024

Thu, 28 Mar 2024 03:56:04 GMT

Kim Guest and Linda Bruce discuss the latest technical news for March 2024.

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Latest News - February 2024

Thu, 29 Feb 2024 03:54:16 GMT

Craig Day, Tim Sanderson, Linda Bruce and Kim Guest discuss the latest technical news.

For more information see ATO PBR 1052187560814 Subject: Superannuation death benefits dependent Date: 8 Dec 2023

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Personal deductible contributions and Division 293 tax

Thu, 29 Feb 2024 03:49:01 GMT

Craig Day and Peter Wheatland discuss how making a personal deductible contribution affects a client's Division 293 tax liability.

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Latest News - What's in store for 2024?

Fri, 08 Dec 2023 02:11:26 GMT

In this edition of latest news, we discuss the changes to super, tax, social security and aged care that are expected in 2024.

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Principal home sale proceeds exemption

Fri, 08 Dec 2023 02:08:48 GMT

Craig Day and Kim Guest discuss how the social security - principal home sale proceeds exemption works.

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Division 293 - comparing payment options

Fri, 08 Dec 2023 02:05:11 GMT

Craig Day, Linda Bruce and Tim Sanderson discuss an adviser question - should Division 293 tax be paid from super or personally?

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Winding up an SMSF

Wed, 01 Nov 2023 02:24:38 GMT

Craig Day and Kim Guest discuss a range of advice issues to consider before winding up an SMSF.

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Draft legislation for the new Division 296 tax

Wed, 01 Nov 2023 02:21:09 GMT

Craig Day and Tim Sanderson discuss draft legislation which applies an additional 15% tax on super earnings that correspond to a member's total super balance over $3 million from 2025-26.

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Increased flexibility for the First Home Super Saver Scheme

Fri, 29 Sep 2023 06:12:16 GMT

Craig Day and Tim Sanderson discuss changes to the FHSS scheme that are designed to improve flexibility.

Subsequent to the recording of this podcast, legislation implementing the changes received royal assent on 20 Sept 2023. However the start date of the changes is still to be announced.

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Advice implications of the stage 3 tax cuts

Fri, 29 Sep 2023 06:10:25 GMT

Craig Day and Linda Bruce discuss the advice implications of the stage 3 tax cuts, which are legislated to commence 1 July 2024.

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Latest News - Sept 2023

Fri, 29 Sep 2023 06:08:42 GMT

Craig Day, Richard Chen, Alex Denham and Tim Sanderson discuss the latest technical news.

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Question of the month - Division 293 tax and super death benefits

Fri, 01 Sep 2023 02:27:48 GMT

Craig Day and Linda Bruce discuss the implications of receiving a lump sum super death benefit on Division 293 tax.

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Centrelink payment for carers

Fri, 01 Sep 2023 02:25:25 GMT

Craig Day and Kim Guest discuss Centrelink payments for carers - Carer Payment, Carer Allowance and Carer Supplement.

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TBC event based reporting changes for SMSFs

Mon, 31 Jul 2023 05:36:32 GMT

Craig Day and Mark Ellem discuss the implications of a recent legislative change requiring all SMSFs to report TBC events on a quarterly basis from 1 July 2023.

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Important tax return issues relating to financial planning strategies

Mon, 31 Jul 2023 05:34:25 GMT

Craig Day and Linda Bruce discuss a number of important issues to be aware of when clients are lodging tax returns, that may impact the effectiveness of financial planning strategies.

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Mortgage stress - is super the answer?

Tue, 27 Jun 2023 07:57:16 GMT

Craig Day, Linda Bruce and Alex Denham discuss whether clients can access their super if they are experiencing mortgage stress.

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Personal deductible contributions - tips and traps

Tue, 27 Jun 2023 07:52:02 GMT

Craig Day and Linda Bruce discuss some common traps when making personal deductible contributions and how to avoid them.

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SMSFs investing in ungeared unit trusts & companies (13.22C)

Wed, 31 May 2023 08:40:19 GMT

Craig Day and Tim Sanderson discuss the advantages and disadvantages of a SMSF investing in a 13.22C trust or company.

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Super, social security and terminal illness

Wed, 31 May 2023 08:34:24 GMT

Craig Day, Linda Bruce and Kim Guest discuss a range of super and social security issues to consider when a client is diagnosed with a terminal illness.

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Should you rollover a grandfathered account based pension?

Tue, 02 May 2023 06:05:03 GMT

Craig Day and Kim Guest discuss a number of issues that need to be considered when rolling over a grandfathered account based pension.

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Recontribution strategies - tips and traps

Tue, 02 May 2023 05:51:42 GMT

Craig Day and Tim Sanderson discuss key considerations when implementing the recontribution strategy.

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Interdependency relationships

Tue, 28 Mar 2023 03:28:29 GMT

Craig Day and Julie Fox discuss the requirements for a beneficiary of a super death benefit to qualify as a tax dependant under the interdependency relationship criteria.

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Question of the month - Division 293 tax and carry forward concessional contributions

Thu, 23 Feb 2023 01:41:25 GMT

Craig Day and Linda Bruce discuss an adviser question regarding the application of Division 293 tax when utilising carry forward concessional contributions.

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Super and non-residents

Thu, 23 Feb 2023 01:36:18 GMT

Craig Day and Julie Fox discuss a range of frequently asked questions regarding superannuation and non-resident issues.

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Transfer balance cap $1.9M from 1 July 2023

Thu, 23 Feb 2023 01:33:27 GMT

Craig Day and Tim Sanderson discuss the implications of the indexation of the general Transfer Balance Cap to $1.9 million from 1 July 2023

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CGT implications of inheriting a main residence

Thu, 08 Dec 2022 01:35:51 GMT

Craig Day, Linda Bruce and Tim Sanderson discuss the CGT implications of a beneficiary disposing of a property that was inherited from a deceased estate.

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Spouse equalisation strategies

Thu, 08 Dec 2022 01:30:02 GMT

Craig Day and Julie Fox discuss a number of situations when equalising super balances between members of a couple may be beneficial.

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Question of the month - Total super balance vs transfer balance cap

Thu, 08 Dec 2022 01:21:58 GMT

Craig Day, Kim Guest and Tim Sanderson discuss the similarities and differences between total super balance and transfer balance cap.

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Question of the month - Lifetime CGT cap timeframes

Wed, 16 Nov 2022 02:33:35 GMT

Craig Day and Linda Bruce discuss some important timeframes when making super contributions under the lifetime CGT cap.

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Restructuring death benefit pensions

Wed, 16 Nov 2022 02:24:38 GMT

Craig Day and Tim Sanderson discuss the taxation of death benefit pensions and the strategy options to receive pension payments tax effectively.

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Centrelink assessment of renting rooms, self-contained areas or dual occupancy

Wed, 16 Nov 2022 02:20:25 GMT

Craig Day and Kim Guest discuss the Centrelink assessment of the principal home when a client rents out rooms in their home, a self-contained living area or another residence on the same title as their principal home.

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Question of the month - When does a super fund apply the tax-free uplift?

Fri, 30 Sep 2022 06:32:06 GMT

Craig Day and Linda Bruce discuss whether the tax law allows the tax-free uplift to apply to a rollover super benefit. CPD points are available - please complete the quiz available on the podcast page of the FirstTech website available via FirstNet Adviser

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Super death benefits paid to non-tax residents

Fri, 30 Sep 2022 06:30:33 GMT

Craig Day, Linda Bruce and Tim Sanderson discuss the tax implications of a non-tax resident receiving a super death benefit. CPD points are available - please complete the quiz available on the podcast page of the FirstTech website available via FirstNet Adviser

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Enduring powers of attorney and SMSFs

Fri, 30 Sep 2022 06:28:37 GMT

Craig Day, Tim Sanderson and Peter Wheatland discuss whether an enduring power of attorney can become trustee/director when a SMSF member loses capacity. CPD points are available - please complete the quiz available on the podcast page of the FirstTech website available via FirstNet Adviser.

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SMSF SuperStream rollover traps and how to avoid them

Fri, 02 Sep 2022 02:29:02 GMT

Craig Day, with special guests Peter Burgess and David Busoli discuss a range of practical issues with using SuperStream for SMSF rollovers.

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What qualifies as gainful employment

Fri, 02 Sep 2022 02:24:59 GMT

Craig Day, Linda Bruce and Kim Guest discuss a variety of activities and whether they qualify as gainful employment.

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Adding a reversionary beneficiary without a pension refresh

Fri, 29 Jul 2022 04:41:36 GMT

Craig Day, Kim Guest and Linda Bruce discuss the Centrelink and estate planning considerations when adding or removing a reversionary beneficiary without a pension refresh.

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Latest News July 2022

Fri, 29 Jul 2022 04:27:57 GMT

Craig Day, Julie Fox, Kim Guest and Peter Wheatland discuss the latest technical news.

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SMSFs investing in a private company

Wed, 06 Jul 2022 00:26:37 GMT

Craig Day, Alex Denham and Tim Sanderson discuss a range of legal and practical issues that a SMSF trustee needs to consider before acquiring shares in a private company.

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High Court decision on SMSF binding nominations

Wed, 06 Jul 2022 00:25:11 GMT

Craig Day and Clinton Jackson discuss the recent High Court decision in Hill v Zuda Pty Ltd, which determined whether a binding death benefit nomination for an SMSF can last indefinitely.

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Centrelink assessment when a member of a couple dies

Wed, 04 May 2022 06:12:15 GMT

In this podcast we discuss the impact on the surviving partner's Age Pension when a member of a couple dies.

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Work test removal and recontribution conundrums

Fri, 25 Mar 2022 05:10:23 GMT

In this podcast we discuss the opportunity to implement recontribution strategies due to the removal of the work test from 1 July 2022, including issues that need to be considered when implementing this strategy for someone who has already retired.

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Deceased estates - taxation and Centrelink

Mon, 28 Feb 2022 02:35:12 GMT

In this podcast we discuss the taxation and Centrelink treatment of a deceased estate.

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Small business owner's retirement plans can impact tax and super

Wed, 08 Dec 2021 01:55:41 GMT

Craig Day and Linda Bruce discuss the small business 15-year exemption, and the importance of ensuring it is in connection with retirement. If not planned properly, the disposer may need to pay additional capital gains tax and miss a significant opportunity to maximise superannuation contributions.

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SMSF central management and control

Wed, 03 Nov 2021 22:23:25 GMT

Craig Day and Tim Sanderson discuss the SMSF central management and control test including tips, traps and strategies.

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Six member SMSF

Wed, 01 Sep 2021 23:01:41 GMT

Craig Day and Tim Sanderson discuss the pros and cons of the new rules that came into effect on 1 July 2021, allowing SMSFs to have six members.

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Contribution reserves and SMSFs

Tue, 04 May 2021 04:17:39 GMT

This podcast discusses contribution reserving strategies for SMSF members, and the potential for some members to utilise the increase in the contribution caps from 1 July 2021, in the current financial year.

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Death benefit income streams and the transfer balance cap

Mon, 29 Mar 2021 23:38:52 GMT

Craig Day and Linda Bruce discuss the transfer balance cap implications of a spouse receiving a death benefit as a retirement phase income stream.

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Foreign super fund transfers

Mon, 22 Feb 2021 05:04:53 GMT

Craig Day and Linda Bruce discuss the taxation implications of transferring foreign superannuation savings to Australia.

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Exploring the retirement condition of release

Thu, 10 Dec 2020 00:31:53 GMT

In this podcast we explore the retirement condition of release in detail and provide examples of how it operates in a range of situations. We also answer the most frequently asked questions FirstTech receive and highlight current areas of uncertainty.

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Invalidity super issues

Tue, 03 Nov 2020 01:32:38 GMT

In this podcast, we discuss a range of tips and traps when accessing superannuation due to permanent incapacity.

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Testamentary trusts and tax issue

Wed, 30 Sep 2020 23:48:24 GMT

Testamentary trusts are a commonly used estate planning tool. In this podcast, we discuss a range of tax related issues surrounding testamentary trusts including:

Tax concessions for minor beneficiaries
Streaming trust income
Taxation of super death benefits

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Leave payments on retirement: Lump sums vs taking leave

Wed, 30 Sep 2020 23:41:07 GMT

Clients who are considering retiring will often have outstanding annual and/or long service leave. In many cases, they will have a choice between receiving these payments as a lump sum or taking accrued leave prior to terminating employment.

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Impact of negative returns of super tax components

Tue, 01 Sep 2020 02:43:47 GMT

Negative investment returns can not only impact a client’s super balance, but also the tax components that make up the balance of an accumulation account.

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Sole purpose test

Thu, 06 Aug 2020 03:38:14 GMT

Craig Day has an interesting discussion on various aspects of the sole purpose test with special guest - Peter Bobbin.

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Accessing super under the financial hardship condition of release

Wed, 04 Mar 2020 00:01:18 GMT

Recent bushfires have seen many people put in a difficult financial position. In some cases they may consider accessing super under the severe financial hardship condition of release however they need to meet specific eligibility criteria.

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Total super balance - inclusion of LRBA amounts

Tue, 03 Mar 2020 23:55:33 GMT

In this podcast we discuss a recent legislative change that includes the outstanding balance of an LRBA entered into on or after 1 July 2018 into the total super balance of certain SMSF and SAF members.

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Receiving Age Pension Overseas

Tue, 05 Nov 2019 13:00:00 GMT

In this podcast we discuss the Centrelink rules that apply when living overseas and receiving the age pension including proportional portability and the former resident rule.

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Super Contribution Splitting

Tue, 05 Nov 2019 13:00:00 GMT

In this podcast we discuss the strategy of splitting concessional contributions to a spouse. Splitting contributions allows clients to equalise superannuation balances which can be effective at maximising access to superannuation tax concessions.

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Co-investment owners, partnerships and financial planning considerations

Fri, 27 Sep 2019 04:17:47 GMT

In this podcast we discuss the implications of jointly holding passive investments such as investment properties or share portfolios, and the not commonly understood implications of being treated as partners in a partnership for tax law purposes.

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Alternative Centrelink Assessment - Member of a Couple Enters Care

Fri, 30 Aug 2019 01:06:09 GMT

In this podcast we discuss an alternative Centrelink assessment known as ‘living separately and apart’ that may apply when a member of a couple enters aged care.

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Tax on Super Death Benefits Paid to Estate vs Beneficiary

Fri, 30 Aug 2019 01:05:51 GMT

In this podcast we discuss the different financial outcomes that can arise depending on whether lump sum super death benefits are paid directly from the deceased’s super fund or indirectly through the deceased’s estate.

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Expansion of Work Bonus to Self-Employed

Fri, 30 Aug 2019 01:04:39 GMT

In this podcast we take an in-depth look at the expansion of the social security Work Bonus to self-employed clients from 1 July 2019

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When I'm 64

Fri, 30 Aug 2019 01:03:04 GMT

In this podcast we take an in-depth look at the superannuation, tax and social security rules that impact clients approaching age 65.

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