Reminder to pay pensions before 30 June

The end of financial year always seems to come up faster than it should. When it comes to self managed superannuation it is important that certain matters, if applicable to your circumstance, are considered prior to 30 June.

If your superannuation fund is in pension phase or a Transition to Retirement Income Stream (TRIS) has commenced, it is crucial to ensure that the minimum pension payments for the 2014/2015 financial year are drawn prior to 30 June 2015.

If a fund fails to physically pay sufficient pension payments to meet its minimum pension obligations, the fund will not be entitled to the tax exemption (i.e. it will lose its tax free income status). Other than in specific circumstances, it is not acceptable for the fund to accrue any pension shortfall in its financial statements.

Your minimum pension amount was provided on your SMSF year end letter from Bush & Campbell. If you require additional detail on your minimum pension amount please contact Daniel Uden on (02) 6938 4600.

Cristy Houghton

Embarketing, 48 Johnston Street, Wagga Wagga, NSW, 2650

Cristy's unique career has taken her from country NSW to the city lights of Clarendon Street South Melbourne and back again. With an early career in radio as a copywriter and creative strategist, she is now a Jill of all trades as a graphic designer, website builder, blog writer, video editor, social media manager, marketing strategist and more. 

In fact, give her any task and this chick will figure out how to do it! Go on, we dare you!

No, really, we DARE you!!

Cristy has won two Australian Commercial Radio Awards (ACRAs) for Best Ad and Best Sales Promotion, and even has an 'Employee of the Year' certificate with her name on it.

Cristy and her husband James have traveled extensively through Russia, China and South East Asia, and have two fur-babies, Sooty (cat) and Panda (puppy). Cristy loves drinking coffee, meeting people to drink coffee, coffee tasting and coffee flavoured cocktails. She also enjoys road trips, TED Talks and watching cat videos on youtube.