The SMSF Association has warned SMSFs with pensions to ensure that the minimum pension payments have been met by 30 June.
SMSF Association CEO John Maroney said, given all the changes around 30 June, it would be understandable if SMSF members overlooked the compliance obligations for pension payments.
“Although it’s imperative SMSF members are across all the changes, we would urge them not to overlook withdrawing their minimum pension amount for the 2016-17 financial year,” he said.
“Alternatively, if they are in the transition-to-retirement phase they must take care not to exceed the maximum payment. If members are in any doubt they should get specialist advice.”