Requirements for account-based pensions

You must maintain appropriate records while running an account-based pension, including:

  • the market value of the pension at commencement
  • the taxable and tax-free components of the pension at commencement
  • the earnings from assets set aside to support the pension (where appropriate)
  • the pension payments made
  • any commutations made from the pension account – document these at the time the payment is requested, you can record them in trustee minutes.

Running a self-managed super fund (SMSF)

Steps Progress

What is an SMSF?

3 mins

Your obligations when running an SMSF

1 mins

Contributions and rollovers

1 mins

Contributions

6 mins

Rollovers

6 mins

Managing your fund’s investments

36 mins

Paying super benefits

8 mins

Types of benefits

18 mins

Reporting and administration

1 mins

Understand how your fund is taxed

5 mins

Value your fund’s assets and prepare financial statements

2 mins

Arrange and receive an SMSF audit

7 mins

Lodge your SMSF annual return (SAR)

4 mins

PAYG withholding obligations

4 mins

Reporting transfer balance cap events

3 mins

Record-keeping requirements

2 mins

Notify the ATO and ASIC of changes

2 mins

Consider professional advice

2 mins

Help and more information

3 mins

Related courses

1 mins

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