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Carisma Solutions Blog » Superannuation

Following the release of the latest Average Weekly Ordinary Time Earnings (AWOTE) index, the anticipated increase to the contribution caps from 1 July 2024 has been confirmed. Here are the changes:- The Standard Concessional Contribution cap will increase from $27,500 to $30,000.- The Non-Concession ...
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Non-Concessional Contributions refer to the after-tax amount, and it should also be brought into the Self-Managed Superannuation Fund (SMSF) within the specified cap limit.  In certain instances, the contributed amount may exceed the available cap limit. We will investigate and determine the appro ...
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The term "blockchain" refers to the way data is structured into "blocks" of information, and each new block is linked to the previous one, forming a continuous chain of blocks. Blockchain technology is a decentralized and distributed ledger technology that records transactions across multiple comput ...
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The Transfer Balance Cap (TBC), initiated on 1st July 2017, was introduced with the aim of restricting the amount individuals can transfer into retirement phase pensions. When first introduced, the General TBC was set to $1.6 Million.  However, the General Transfer Balance Cap (TBC) was subsequen ...
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SMSF
Self-Managed Superannuation Funds (SMSFs) have gained immense popularity as a way for individuals to take control of their retirement savings and investment decisions. But managing an SMSF is not easy. It involves complicated financial and accounting tasks, including figuring out how much your asset ...
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As per SMSF fund quarterly statistics for June 2023 revealed the establishment of 6,351 new funds during the quarter, along with 297 fund closures, resulting in a net growth of 6,054 funds. Consequently, the total count of SMSFs has now reached 610,287, collectively comprising 1.13 million members.T ...
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In the realm of Self-Managed Superannuation Funds (SMSFs), the Transfer Balance Cap (TBC) stands as a pivotal player. This cap, which sets limits on the amount of capital transferrable to the retirement phase of super, has undergone dynamic changes since its inception on 1 July 2017. Most notably, o ...
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Beginning on 1 July 2023, SMSFs will be subject to new requirements for the submission of the Transfer Balance Account Report (TBAR).With effect from 1 July 2023, the ATO will eliminate the TSB threshold and mandate that all SMSFs submit their reports 28 days following the end of the quarter in whic ...
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Carisma Solutions
Typically, a TBA credit arises on the commencement of a pension. There are special rules that modify the timing of when a death benefit pension is credited to a recipient’s TBA in respect of a death benefit:The Reversionary Pension to dependent becomes entitled to it immediately upon person’s de ...
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Impermanent Loss is a concept that is commonly associated with liquidity provision in Decentralized Exchanges (DEXs) and Automated Market Maker (AMM) protocols. It refers to a potential risk or loss that liquidity providers may experience due to the volatility of the assets they provide liquidity fo ...
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