PDS updates at 1 July 2020

Please note that Smarter SMSF has updated the following Product Disclosure Statements (PDS) to reflect changes as at 1 July 2020:

• Main PDS:
  • Fund Establishment (new SMSF)
  • Trust Deed Upgrade
  • Lost Deed
• Pension PDS:
  • Pension Commencement

The Main PDS includes the following updates:

• Update to contribution rules, including:
  • extending the eligibility to contribute without a work test through to age 67.
  • extending the eligibility to make a spouse contribution through to age 74
• Including the temporary 50% reduced minimum pension levels for 2020-21
• Updates to key rates and thresholds - e.g. low rate cap, CGT cap.

Important Note: The PDS does not yet include the bring-forward rule that applies for a 65 & 66 year as this has not yet become law.  The PDS will be updated further once these laws have passed.

The Pension PDS includes the following updates:

• Including the temporary 50% reduced minimum pension levels for 2020-21