Actuarial Services  

ABP Certificates

An actuarial certificate is needed under s295-390 of the ITAA97 in order to claim a proportion of the assessable SMSF income as exempt from tax under the unsegregated method. Fill in the data form below (either Excel or pdf). Alternatively, simply email us the general ledger from the admin application and draft accounts before year end allocations. Cost: $132 (inclusive of gst).

Defined Pensions

For SMSFs with a legacy defined pension such as s1.06(2) Lifetime; s1.06(7) Life Expectancy and s1.06(6) Flexi Pension, the report checks that the assets meet the high probability requirement going forward and provides the s295-390 tax exemption percentage for past year. Please complete and email the application form and supply the previous actuarial report. Cost: $275 (inclusive of gst).

Lifetime Calculator

This calculator allows you to estimate the liability of a lifetime pension for either a single person or a couple, including the reserves needed for high probability certification.

Consulting Services

Some of the actuarial consulting services we undertake include:

♦   APRA defined benefit superannuation
♦   Employee Share Option liabilities
♦   Workers Compensation & CTP
♦   Retirement Homes projections
♦   Long Service & Sick Leave liabilities
♦   Financial Modelling services

To discuss phone Brian on 03-6224 1145.

Segregated or Not

Part of the year may be deemed by the ATO to be segregated if it has a period with only pensions. The accounts and the actuarial certificate must reflect this.

Some SMSFs have a total superannuation balance of more than $1.6m and a pensioner may be forced to use the unsegregated ECPI method.

Various actions can be taken - such as allocating excess reserves and rolling over complying pensions to improve the ECPI percentage. However Centrelink ATE ramifications will need to be considered.

Transfer Balance Caps

Special valuation (and other) rules apply to capped "defined benefit income streams" (DBIS). Flexi pensions don't fall under these rules. Market-linked pensions may or may not be a DBIS depending on the commencement date.  Currently, market linked pensions have commutation anomolies that need to be corrected by legislation.

Where the defined beneift income stream exceeds $100,000, 50% of the excess is included as assessable income and taxed at the individual's marginal tax rate.