The consequences of underpaying a pension
TR 2013/5 was updated in June 2024, introducing a new approach to processing underpaid pensions, requiring SMSF trustees and professionals to understand these changes thoroughly. The One-Twelfth Rule Still Applies Before delving into the changes affecting underpaid pensions, it is essential to clarify that the one-twelfth rule remains in effect. The rule provides limited circumstances in which SMSF trustees can self-assess, allowing an account-based pension...
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