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Actuarial Certificate Launched
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Biggest change to superannuation in 20 years, around 8.4 million Australians will have their superannuation savings boosted
 

More Money in Retirement - an Historic Boost to Superannuation

In the biggest change to superannuation in 20 years, around 8.4 million Australians will have their superannuation savings boosted as a result of the superannuation guarantee rate legislation introduced into the Parliament today.

The Superannuation Guarantee (Administration) Amendment Bill 2011 increases the superannuation guarantee (SG) rate from nine per cent to 12 per cent.

 

 

The Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, said "This is an historic reform. Today, the Gillard Labor Government has taken another important step towards increasing the adequacy and fairness of retirement incomes for Australian workers."

"Australians should not have to work hard and retire poor. Nine per cent super is simply not enough."

 

An employee aged 30 earning around $70,000 today will retire with an extra $108,000 in superannuation under these reforms.

 

The increase in the SG will boost the superannuation savings of Australian workers by around $500 billion by 2035. A proportion of these savings will be channelled back into the Australian economy to fund jobs and nation-building infrastructure.

 

The revenue from the MRRT will go towards funding the increase in the SG which will comes at a cost to Government revenue of an estimated $740 million over the forward estimates.

 

A win for older Australians

"As a result of strong representations from members of the Labor caucus and cross-bench, including Yvette D'Ath, Shayne Neumann, Deb O'Neill, Michelle Rowland, Rob Oakeshott and Tony Windsor, I have decided there will be no age limit for superannuation guarantee contributions. These changes will start on 1 July 2013," Mr Shorten said.

 

The tax receipts from the Mineral Resource Rent Tax will partly finance both these measures, to ensure that the increased income from Australia's natural resources provides an enduring benefit for the nation.

 

These policies will be delivered through amendments to the Superannuation Guarantee (Administration) Act 1992.

 

"Together with the low income superannuation contribution and Stronger Super package of reforms previously announced, the increase in the superannuation guarantee will improve the adequacy of retirement incomes and deliver a comfortable and secure retirement for current and future generations of Australian workers," he said.

 

 

Actuarial Certificate (Section 295 - 390) for only $82.50

  

 

 

Actuarial Certificate (Section 295 - 390) Launched

- Only $82.50

  

  

 

 

It gives me great pleasure to inform you that we have finished testing our Actuarial module which was in production since January 2011. We officially launched our module on 1st October 2011.

 
 

As you know a Self Managed Super Fund (SMSF) can claim exemption from paying tax on income from those assets (pension assets) which are supporting an income stream, such as an account based pension being paid to a member of the fund. This income is called Exempt Current Pension Income (ECPI).

 

 

Fund income, such as concessional contributions or non-arms length income cannot be exempted. Also some expenses which relate to both accumulation assets and pension assets must be apportioned so that only proportion of expenses relating to production of assessable income is deductible to the fund.

 

 

 

For example, where the fund has only one bank account and the fund is paying bank charges, only a percentage of this expense can be deductible as all interest income may not assessable.

 

 

Exemption from income tax is not automatic a fund must obtain an actuarial certificate (under Section 295 - 390 of ITAA) before the fund can be audited and lodge its income tax return where the pension assets are mixed (un-segregated) with non pension assets (accumulation assets).

 

 

 

Our automated online system collects information to prepare an Actuarial Certificate to enable your Self managed super fund to claim Exempt Current Pension Income (ECPI) where the fund assets are not segregated between pension and non pension assets.

 

 

We instantly email preliminary exempt income percentage so that you can continue to finalize your accounts. Signed actuarial certificate is emailed to you after thorough checking of your data by our actuary, usually within hours.

 

 

 

We do not use confusing online excel sheet for your data entry, like other providers, we have developed our own "Question and Answer Style" in-house module which collects data and calculates exempt pension income, online, for your fund. We store your certificates (password protected) on our website for you to download from anywhere in the world 24/7 from our innovative document manager.

 

 

Due to our advanced technical system, come huge cost savings to the actuary which we want to share with you and have priced the certificate for only $125 Incl. GST.

 

 

  

I understand that it may take a few minutes extra for you to generate first certificate as you familiarise yourself with our system, to assist you further, we have decided to discount it further to only $82.50 Incl. GST for some time.

 

Values will be able to be rolled over in the following year, which means that it should not take you more than 10 minutes to order certificates for 2nd year for the same SMSF.

 

  

To read more about module please visit http://www.trustdeed.com.au/actuarial-certificate.html or click here.To purchase anything from our website you have to register with us, registration is free. We offer full money back guarantee: if you do not like our legal documents for any reason, we will be happy to return our fees without asking any questions.

 

I invite you to test drive our system and save yourself time and costs to your clients.

 

Manoj Abichandani

SMSF Specialist Advisor

SMSF Specialist Auditor

 

 

 

 

 

 

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HOW IT WORKS

 

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The whole process takes not more than 20 minutes!



 

 

 

Every legal document purchased from us is reviewed by our support team for all structural issues, mergers, apparent spelling inaccuracies, address problems etc.

 


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