In this webinar recording, Gabriela Rusu will talk about:
- How the government COVID-19 relief super measures work in practice.
- The ATO’s COVID-19 relief measures for self-managed superannuation funds (SMSFs), including:
- Related party limited recourse borrowing arrangement (LRBA) relief
- Rent relief for tenants (related or unrelated third party) suffering financial distress due to COVID-19
- The ATO’s approach to breaches of the SMSF in-house asset rules and residency rules
- The consequences of withdrawing super early and the risk of losing insurance cover
- The operational challenges for temporary early release
- The required benefit payment documentation for SMSF members accessing super early
- The risk of taking advantage of the temporary early access measure and using it to obtain tax benefits
- Unauthorised super access and the consequences of not meeting the relevant eligibility criteria before withdrawing
- How the new minimum pension drawdown rates apply to certain types of income streams
- The tax implications of the temporary reduction in the minimum pension drawdown rates for recipients of market linked pensions
- Advice considerations in the COVID-19 crisis.
Recorded on Tuesday 5 May 2020.
Presented by Gabriela Rusu
1 CPD Hour