Smarter SMSF

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September 25, 2017  

Episode 21 - Satisfying the Retirement Condition of Release

September 25, 2017

Changes from 1 July 2017 have put a greater spotlight on the requirements of an individual needing to satisfy the condition of release of 'retirement' that provides the ability for a member to move their accumulation benefits or transition to retirement income stream into retirement phase.

In this week's podcast, Aaron explores the key issues and what a member needs to satisfy where they are under age 60 to be 'retired', against the requirements a meeting the retirement definition within within SISR 6.01(7) for someone who has attained age 60. 

Aaron analyses the views expressed by the ATO within a case study of a closely-held arrangement for an individual under 60 and what a member will need to satisfy around their intent or never seeking gainful employment again on either a full-time or part-time basis.