Indexation of the general transfer balance cap

Indexation of the general transfer balance cap

The general transfer balance cap is currently $1.6 million. From 1 July 2021, it will be indexed to $1.7 million. When the general transfer balance cap is indexed to $1.7 million, there won’t be a single cap that applies to all individuals. Every individual will...
What is a Death Benefit Nomination

What is a Death Benefit Nomination

If you pass away, superannuation does not automatically form part of your estate. Depending on your super fund, the trustee will either pay your death benefit to your estate or use its discretion to decide who will be the beneficiaries unless you complete a binding...
Social Security gifting rules

Social Security gifting rules

If you or your partner receives a payment from Centrelink or Veterans’ Affairs (DVA), in most cases, the amount you are eligible to receive depends on your level of assessable assets and income. To limit the potential for recipients of Government means-tested payments...