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DIY Super For Dummies, 3rd Australian Edition by Trish Power

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Chapter 21

Running a DIY Super Pension

In This Chapter

arrow Deciding whether to run a pension from your SMSF

arrow Converting an accumulation account to a pension account

arrow Looking over your two SMSF pension options

arrow Taking steps to start a SMSF pension

arrow Calculating the tax-free and taxable components of a pension

R unning a SMSF in retirement phase is often when the fun begins for SMSF trustees/members. You usually have more time to spend on running your fund (if that’s your inclination), and you start reaping the rewards of your many years of saving and investing. Ideally, your super account should provide the income necessary to live the retirement lifestyle you choose.

The primary purpose of having a superannuation account is to finance your retirement lifestyle in a tax-effective way. If not for the tax concessions associated with super (refer to Chapter 13), Australians would simply save and invest outside the superannuation structure. The tax concessions attached to super can continue into ...

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