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When considering the full commutation of a pension for SMSFs, there are several arising pitfalls that shape the technical strategy that will require greater care.
Whilst good records can enable SMSFs to manage contributions in order, unexpected circumstances and timing changes can cause funds to face a non-concessional cap breach, prompting the need for them to make strategic adjustments, according to a technical specialist.
A new report has highlighted the “invaluable” role financial advisers played for their clients throughout the COVID-19 pandemic outbreak last year.
One of the key benefits, of self-managed superannuation funds (SMSFs) that are well managed and have access to ongoing specialist advice, is the level of understanding members enjoy.
The Financial Services Council has released its new blueprint for a simplified regulatory framework which could reduce the time and cost of providing financial advice and set the foundational frameworks of advice as a profession.