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Aaron Dunn, CEO of Smarter SMSF, said on a recent online update that SMSF trustees have to ensure they meet the minimum pension payment obligations as part of their compliance, but noted there are other elements that should also be taken into consideration leading up to the end of the financial year.

Tim Miller, head of technical and education for Smarter SMSF, said that in light of the ATO’s position on not paying the minimum pension requirements, it’s important that SMSF trustees ensure they have done their calculations on the previous 30 June/1 July balances, or commencement balances.

“If you commence during the current year, ensure that you meet that minimum pension obligation prior to 30 June to ensure that the fund firstly meets the standards of having a pension, and secondly, in an account-based pension sense, gets its exempt current pension income deduction,” Miller said.

“[It’s important to] recognise that for account-based pensions there’s no maximum versus say a transition to retirement income stream where there is a maximum. Ensure you at least take out the minimum that’s been calculated on either a full year or a pro rata year basis.”

Dunn said another thing to note at this time of year is how benefits are being taken out, especially where there may be multiple pension strategies, or both pension and accumulation accounts.

“There are some important steps that need to be put in play, in particular where those individuals are taking more out than that minimum for the year,” Dunn said.

 “That, arguably, is in light of potentially some of the Division 296 tax measures coming in from 1 July 2026.”

Another element to consider, Miller continued, concerns the transfer balance cap, and whether there is benefit in taking money out as either a pension withdrawal or as a partial commutation from a pension.

“Or if you have an accumulation interest, whether it’s to take a lump sum out of that. It’s not  a set-and-forget rule, but one of those areas that people need to look at on a year-by-year basis, as well as from an estate planning point of view, “ Miller said.

“[You should look at] the breakdown, the components of multiple interests, or various interests as to where it might be beneficial to take any amounts over and above that minimum.”

Miller continued that from a TRIS perspective there is “almost nothing ventured, nothing gained” as they are not linked to the general transfer balance cap until the member meets a further condition of release.

“You would primarily start one because you want to draw down income, and by commencing a pension at any point in time, it’ll give you access to that 10 per cent of the account balance,” he said.

“Therefore, if there’s an income need, starting a TRIS at any point could be beneficial. On the flip side, when we look at account-based pensions, one of the critical rules is that if you start on or after 1 June, there’s no minimum pension obligation for that year.

“That means we can trigger the commencement, which will of course trigger a transfer and balance account reporting moment, where we’ll have to provide the report for that June quarter, but it will entitle the fund to ECPI on the earnings that it generates from that date until the 30 June.”

Additionally, Miller said, there is no minimum pension obligation on the drawdown, so you can commence the account-based pension on or after 1 June, get an income tax exemption within the fund, but not draw down on the capital in the sense of drawing the income from the fund for that month.

“There’s a couple of benefits for it and, of course, subject to the fund’s balance and the number of members, you might be able to do asset segregation. So there may be some significant tax benefits, particularly from a CGT point of view, from commencing a pension on 1 July, if you are looking at some form of asset in that final month,” he added.

Dunn emphasised that the 1 June date is important.

“That balance is going to be integral because of the disregarded small fund asset rules, but it does then provide you with that opportunity to look at the tax position in that final month and determine if the fund may realise assets or get a sizable gain that it can exempt through a deemed segregated period in that particular point in time,” he said.

Keeli Cambourne
May 28, 2026
smsfadviser.com

The post Minimum pension drawdown not the only thing to consider as 30 June approaches appeared first on Professional Wealth Services.

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How much risk can you tolerate?

Your attitude to risk is one of the most important factors to consider when it comes to investing.

This is because growth assets, like shares and property securities, tend to have more volatile returns over the shorter term but they do have the potential to produce higher long-term returns.

Assets like bonds and cash are considered lower risk and less volatile but they generally do not have the same potential for similar high returns over the long term.

Understanding whether you have an appetite for risk and where you are on the risk spectrum is often the first step on an investment journey.

Why your investment timeframe matters

Your timeframe is just as important as your attitude to risk.

In general, the longer you plan to invest, the more capacity you have to include growth assets in your portfolio. That’s because market ups and downs tend to even out over time.

For example, international shares can deliver very strong returns in some years but they can also fall sharply in others. Over longer periods, however, the range of outcomes typically narrows, as periods of strong and weak performance balance each other out.

This is why your investment goal matters. Money you’re setting aside for a short term goal, such as a home deposit you’ll need in three years, usually calls for a more conservative approach. There’s less time to recover from a market downturn.

By contrast, funds you’re investing for a long term goal, like retirement in 30 years, may be better placed in a higher growth portfolio because time is on your side.

Understanding risk across asset classes

Different asset classes have delivered very different outcomes over time. Looking at how returns have varied over one, five and ten year periods can show how wide the range can be in the short term, and how those extremes tend to narrow over longer timeframes.

Risk profiles in practice: diversified funds

Multi-asset or diversified funds are designed to align with different investor risk profiles. These funds invest across a mix of growth and defensive assets, with the balance adjusted according to how much risk an investor is willing to take.

Vanguard Diversified Funds are an example of this and offer a range of options with different mixes of assets. 

The key difference between these funds is how much they allocate to growth assets such as shares and property versus defensive assets like bonds and cash. This mix has a significant impact on both potential returns and how much a portfolio’s value may fluctuate over time.

For instance, a high growth option has a much larger allocation to growth assets. It’s designed for investors with a higher tolerance for volatility and a long investment timeframe and who are focused on growing their wealth over time.

On the other hand, investors who want more stability during market downturns may be more comfortable with a conservative or balanced option, where a higher allocation to defensive assets can help soften market falls.

Is avoiding risk really risk free?

It’s worth remembering that taking no risk at all can carry risks of its own.

Keeping all your money in cash may feel safe, but overtime, inflation and costs can erode your purchasing power, meaning your money buys less in the future than it does today. For long term goals, this can be a significant consideration.

Vanguard
27 May 2026
vanguard.com.au

The post What’s your risk profile? appeared first on Professional Wealth Services.

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• Visiting the Moneysmart website
• Entering a name or surname
• Reviewing any matches in ASIC’s national register
• If a match is found, the tool provides details and a transaction number needed to make a claim.  
• The search and claims process is free, and people do not need to use private claiming services.

• proof of identity (such as a driver licence or passport)
• documents linking the person to the name and address on the record
• the transaction number (OTN) from the search result  
• ASIC uses this information to ensure money is returned to the correct person.

The post ASIC urges Aussies to check for unclaimed money appeared first on Professional Wealth Services.

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The current quarterly super payment system will be removed. In practical terms, this means:

• Super will no longer be something you can pay later in the quarter
• Each pay run will need to include a super payment
• Late payments can trigger penalties much sooner than under the current rules

For many businesses, this isn’t just a technical change — it’s a cash flow and payroll process change. Businesses are most likely to be impacted if they:

• Currently pay super quarterly
• Run weekly or fortnightly payroll
• Rely on manual payroll or manual super payments
• Operate with tight or seasonal cash flow

The good news is there’s still time to prepare, but it’s something that should be reviewed well before July 2026, rather than rushed at the last minute.

​Payday Super checklist for employers – ATO

Use this checklist to get ready for Payday Super, which starts 1 July 2026.

• February to March 2026: Plan and prepare
• April to June 2026: Lock in your plans
• July 2026: Payday Super starts
• Tips and resources

If you need help reviewing your payroll and cash flow arrangements, please contact our office.

The post PAYDAY SUPER STARTS 1 JULY 2026 – Planning guides appeared first on Professional Wealth Services.

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The mid-career phase is a critical opportunity for women to get their financial house in order and build their long-term financial future.

As women’s earnings typically peak during this stage, the time is ripe to bolster savings and plan for retirement. Careful planning, including considering some of the following tips, can help build long term financial confidence.

1. Consider working with an experienced financial adviser

At this pivotal phase of your life, career and investment journey, a trusted financial adviser can help with managing debt, reviewing portfolios and working towards financial and retirement goals. Sometimes, just a few meetings can help determine strategies and build confidence around balancing growth and risk.

2. Take control of your super

Superannuation does not have to be a passive investment. In Australia, super is without question one of the most tax-effective investment vehicles available. One option is making extra contributions. You can make up to $30,000 worth of concessional contributions each financial year across all your super accounts. People who are below this annual limit may choose to make additional contributions before June 30 each financial year. One smart way to do this for mid-career women is through salary sacrificing, which involves making additional pre-tax contributions to boost retirement savings while reducing taxable income. It is also worth reviewing your super fund’s investment option, performance and fees to ensure it aligns with your goals and risk profile.

3. Manage career breaks proactively

Career breaks for parenting and caring roles are a reality for many women, but strategies to support your superannuation during these periods can help offset gender wealth gaps. 

If you make a personal super contribution, you may also be eligible for a co-contribution from the Australian Government of up to $500. There is also the Low Income Superannuation Tax Offset, or LISTO, which assists eligible workers earning $37,000 a year or less. It can be worth up to $500 a year. And, if you take unpaid parental leave and your partner is still working, your partner may consider making spousal contributions to your super so you keep your balance ticking over while you are on leave. 

4. Get smart with asset allocation

Mid-career female investors still have a 15- to 25-year horizon before retirement. While risk tolerances will always vary from person to person, a longer investment horizon can offer more flexibility for exposure to growth focused assets such as shares. Diversification remains critical, however. Historically, stock and bond prices tend to move in opposite directions, so splitting your investments between shares, bonds, real estate and cash, for example, can help smooth out market ups and downs.

5. Understand the role of ETFs

On the asset front, investments outside super offer flexibility and can play a role in broader wealth building strategies. Many female investors are tuning to exchange-traded funds (ETFs) because they offer a simple way to gain diversified market exposure at a relatively low cost. Broad-market ETFs, including those tracking major indices, can provide exposure to thousands of companies in a single investment, helping spread risk across sectors and regions.

6. The role of insurance and estate planning

As incomes, assets and responsibilities grow through mid career, protecting wealth becomes an increasingly important consideration. For some people, this includes reviewing insurance arrangements such as income protection or life cover, which are designed to provide financial support in the event of illness, injury or death.

Mid career can also be a time when people review or put in place estate planning arrangements, such as a will, powers of attorney and beneficiary nominations, to ensure their wishes are clearly documented.

In short, mid-career is a pivotal phase of your financial life. A clear plan and a focus on building confidence can help support financial wellbeing over the decades ahead.

Vanguard
27 May 2026
vanguard.com.au

The post Six strategic investment moves for mid-career women appeared first on Professional Wealth Services.

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Dan Hill, national director, commercial for Opteon, said the federal Budget is likely to accelerate a reallocation of capital, with tighter tax settings on residential investment pushing more investors to seriously consider commercial property for its relative tax efficiency and income profile.

“But the CGT story is more nuanced than the headlines suggest, and that nuance matters particularly for clients holding commercial assets in personal or trust structures,” Hill said.

In a recent analysis, Opteon said there has been little focus on what the announced changes mean specifically for property held inside SMSFs, and what June represents for property-holding funds from a valuation compliance perspective.

It stated that much post-Budget analysis has noted that commercial property benefits comparatively from the Budget’s residential focus.

“The negative gearing restrictions are residential-specific: commercial property (office, industrial, retail, and alternative assets) retains full deductibility of losses against other income, with no restriction based on asset type or acquisition date,” it stated.

“For SMSF clients already holding commercial property, including business real property leased to a member’s business, that comparison matters. But there is a distinction most of the commentary has glossed over, and it matters particularly for clients holding commercial property in personal or trust structures outside superannuation.”

According to Opteon, commercial property is not shielded from the CGT changes: “Unlike residential property, where new builds retain the choice of the existing 50 per cent CGT discount or the new indexation regime, commercial property has no equivalent concession. 

“Commercial assets held by individuals, trusts, and partnerships face the full 30 per cent minimum CGT tax from 1 July 2027, with no new-build carve-out and no alternative treatment available. The picture is more nuanced than a simple ‘residential bad, commercial good’ framing.”

Opteon noted that in regard to negative gearing, commercial property is unaffected by the restrictions. Established residential property acquired after Budget night is restricted. On this dimension, commercial has improved comparatively.

For CGT, the analysis continued, both established residential and commercial property face the new 30 per cent minimum tax from 1 July 2027. New residential builds retain flexibility (choice of old or new treatment).

“Commercial has no equivalent. On this dimension, commercial has not improved, and is in one respect less flexible than new residential,” Opteon said. 

“Furthermore, inside an SMSF the existing one-third CGT discount appears preserved for both residential and commercial property held within the fund, pending legislation. This is where the structural advantage is most clearly expressed.”

According to Opteon, commercial property’s advantage is most cleanly expressed inside the SMSF, where the CGT treatment appears more favourable than for individual or trust investors.

Additionally, business real property leased to a related party continues to offer a legitimate and tax-efficient structure, provided the lease is conducted at arm’s length and at market rent.

“Independent rental assessments and regular market value certifications are the documented foundation that makes those arrangements defensible under existing NALI rules,” it stated.

“This year’s 30 June 2026 valuation carries additional weight for two compounding reasons. First, it serves simultaneously as the annual compliance figure and, for trustees making the Division 296 cost base reset election, the reference point for that once-only, irrevocable decision.

“Second, commercial property valuations require additional lead time: income capitalisation methodology, lease evidence analysis, and capitalisation rate benchmarking cannot be compressed without compromising quality and defensibility.”

Keeli Cambourne
May 26, 2026
smsfadviser.com

The post Commercial v residential: Be aware of ‘nuanced’ changes appeared first on Professional Wealth Services.

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The post From Bricks to iPhones: The Evolution of the Telephone appeared first on Professional Wealth Services.

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Nadine Connell, co-founder of Smart Business Plans, told SMSF Adviser that most common by a wide margin is that clients believe their SMSF will be under the $3 million threshold and believe they are safe from any tax impact.

She added the other two misconceptions are that the cost-base election will take care of it and that SMSF borrowing was almost banned.

“The ‘I’m under $3 million so I don’t need to do anything’ response is the most common,” she said.

“But the TSB calculation routinely misses industry super from earlier employment, or doesn’t account for what a planned commercial property purchase does to their position at the first assessment date.

“In regard to the cost base election response, clients assume it’s automatic when it’s not. It’s a decision the trustees have to actively make. What they’re often missing is the valuation behind it which has to reflect conditions at 30 June 2026, and commercial valuations are already running four to six weeks in some areas.

“Finally, with the belief that SMSF borrowing was almost banned a meaningful number of clients paused plans through 2025 on that belief. The Treasurer ruled it out, but the decision hasn’t been revisited.”

Connell said confusion is becoming more apparent as the deadline for the start of the new legislation gets closer.

“However, the clients you should worry most about aren’t the confused ones. They’re the quiet ones. They’ve read a headline, done a back-of-envelope calculation, and filed the issue away,” she said.

“Those are the clients making decisions now, or deliberately not making them, based on an incomplete picture. From an adviser perspective, those are the clients least likely to call you between now and 30 June.”

She continued that for clients approaching $3 million, the backwards calculation method can be used whereby you start with the target property price, work out likely market rent, calculate loan repayments, identify the gap.

“That gap is what needs to be closed with voluntary contributions, planned against the caps and documented. If the gap is too big for the caps, the property target comes down or the structure gets rethought,” she said.

“The discipline matters for Div 296 reasons, too. The bigger the contributions needed to make a property work, the faster the fund’s balance grows, and the sooner the $3 million threshold becomes their problem.

Connell said for clients already above the thresholds of $3 million and $10 million, the strategies shift.

“I see spouse balance splitting and re-contribution come up in conversations with their accountant. From our side, the question is liquidity. Does the fund have the cash flow to meet whatever assessment comes, without having to sell a property to fund it. That has to be planned in, not figured out when the bill arrives,” she said.

Although the decision whether to use the cost-base reset election sits with the accountant and the trustees, Connell said the timing of doing that is of importance.

“Whatever they decide, they need a 30 June 2026 valuation, and commercial valuation lead times can be up to six weeks in some areas of our network. The mistake we see is clients waiting for the accountant to tell them what to do, when by then the valuer’s booked out,” she said.

“Get the valuation commissioned now, then let the accountant run the numbers when they’re ready. The valuation is the ingredient, so don’t run out of it while you’re deciding on the recipe.”

Despite the threat of a large Div 296 bill, property owners aren’t getting rid of real estate from their SMSF portfolios, Connell said.

“If anything, it’s the opposite. Clients are directing their next investment toward commercial property in an SMSF rather than residential outside super. I think this trend will accelerate if the CGT and negative gearing changes expected in the upcoming May federal budget come to fruition,” she said.

“The structure still stacks up for balances comfortably under $3 million, and for business owners buying their own premises the fundamentals haven’t changed.”

In the lead up to the start of Div 296 legislation coming into force, Connell said advisers should be doing three things.

“Explain what’s actually in the final law, because a lot of client framing is still stuck on the 2023 version,” she said.

“Then flag the 2026-27 liquidity question: clients with property-heavy SMSFs need cash flow inside the fund to meet a possible Div 296 assessment, on top of normal expenses. That’s planning, not improvising on the day.

“And finally, reach out to the clients least likely to call you. The ones who’ve gone quiet since March because, from their perspective, they’ve already worked it out. Those are the ones who haven’t.”

by Keeli Cambourne
April 27, 2026
smsfadviser.com

The post SMSF commercial property owners and Div 296 ‘misconceptions’ appeared first on Professional Wealth Services.

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Bluestone head of specialised distribution Richard Chesworth said in dealing with mortgage brokers, accountants and financial advisers he has emphasised official numbers demonstrate the settled nature of SMSF borrowing.

“When you look at the ATO statistics, the size of the market, as in assets secured by LRBAs, has generally been between 6.5 and 7.5 per cent [of the total value of all SMSF assets] since about 2020, so it’s consistent,” Chesworth said.

“In regards to the debt, there are about 11 per cent of SMSFs with exposure to LRBAs, and at June 2024 there were $67 billion of assets under LRBAs with about $27 billion worth of debt against them.

“So the real message I like to drive home is this market is established. It’s been around for 19 years, which means we have SMSF loans that have been repaid. We have SMSF loans where the property has been sold.

“I don’t see it as a new safe haven that everyone is looking into, which is where some commentators with a vested interest in the lending for property are going down the path.”

He added these statistics countered criticism of the SMSF sector using LRBAs, noting they were relatively safer, in terms of failure rates, than other forms of lending.

“The LRBA market is mature, is operating well and is low risk because we’re looking at about a 33 per cent gearing of the overall portfolio,” he said.

“I was in a S&P presentation last year and figures they put forward showed that residential mortgage-backed securities had a 30-plus-day default rate of just over 1 per cent, but the SMSF residential mortgage-backed securities had a default rate of over 30 days of 0.1 per cent.

“That default can often be as simple as someone has set up their loan, but haven’t got their direct debit set up properly, so they miss their first payment and it’s reported on that basis.”

April 23, 2026
Jason Spits
smsmagazine.com.au

The post LRBA stability has been understated appeared first on Professional Wealth Services.