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As NetActuary processes ECPI Comparative Analysis Reports, I will provide sample examples. The example in this blog had pensioners who made a “downsizer contribution” in February 2022. They also had a sizeable holding of BHP shares that paid a large, one-off fully franked dividend on 01/06/2022. My interest is not just to learn to fly this new superannuation system, but to gain insight into how to construct strategies. In this example, the SMSF members had flexibility of when they would make the contribution.

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They had about $2.6 million in start balances. Total dividends were $279,750 with $107,168 franking credits – nearly half from the BHP special dividend for the Woodside restructing. Total pension payments were $69,000 with $2,741 expenses. Change in market value was a $262,379 loss.

One initially is tempted to use the full year unsegregated approach. This leads to a $2,927 refund. The deemed segregation option yields a $4,512 refund. With this new task one finds practical challenges. In this case, initially the franking credits were only available in aggregate. It didn’t have brought forward tax (revenue) or capital gains losses. One quickly realizes that one needs more information about what previously would have been left as year end transactions. (Sometime, I must write a summary of how assessable income, unrealized gains, expense apportionment etc. have some flexibility in approach.)

My next analysis has a sizeable Bitcoin loss. Bitcoin is regarded by the ATO as a CGT asset. This area is going to have a considerably larger nuance than just minimizing capital gains tax.

If you would like us to undertake some ECPIs comparative analysis reports, please give Brian a call. We have kept the cost of these reports to $99 inclusive of GST. Our actuarial certificates are the same cost as last year i.e. $77 inclusive of GST. A general ledger copy provides virtually all the data needed, but there are some additional questions around disregarded small fund assets and carry forward losses.

NetActuary will build an understanding of how you approach the issues and not rely simply on automated computer algorithms – that is too dangerous!

NetActuary P/L ABN 94108585164
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Email: Brian@NetActuary.com.au
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