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What are the rules for transitioning to retirement within our SMSF?

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What are the rules for transitioning to retirement within our SMSF?

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Anonymous

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There are a lot of rules regarding SMSF and TRIS, have a look on the ATO website - 

 

SMSF transition-to-retirement-income-streams

 

SMSF transition-to-retirement-income-streams 2

 

Transition-to-retirement-income-streams

 

transition-to-retirement for seniors and retirees

 

Tranfer balance account

 

You can also contact the ATO help line on 13 10 20.

 

or you can apply for specific advice Request-for-SMSF-specific-advice

 

 

 

 

 

 

2 REPLIES 2
Highlighted

Best answer

Anonymous

Replies 0

There are a lot of rules regarding SMSF and TRIS, have a look on the ATO website - 

 

SMSF transition-to-retirement-income-streams

 

SMSF transition-to-retirement-income-streams 2

 

Transition-to-retirement-income-streams

 

transition-to-retirement for seniors and retirees

 

Tranfer balance account

 

You can also contact the ATO help line on 13 10 20.

 

or you can apply for specific advice Request-for-SMSF-specific-advice

 

 

 

 

 

 

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Community Support

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Hi @JeffKennedy,

 

Welcome to our Community!

 

Generally, a SMSF may pay a transition to retirement income stream (TRIS), provided the trust deed of the SMSF allows this type of income stream to be paid. There are a number of rules and things to think about when establishing a TRIS, including minimum and maximum allocations and reporting requirements.

 

Generally, if a member continues to work and receive superannuation benefits from the SMSF at the same time, the SMSF may also be accepting contributions such as superannuation guarantee payments from an employer on behalf of the member. There should be two accounts to make this arrangement work, one for paying benefits and the other for receiving contributions.

 

You can find information on SMSF - transition to retirement income streams on our website.

 

Thanks, JodieH.