Newsletter No. 8, August / September 2013

Third Edition release of The Self Managed Super Handbook

I am pleased to advise that the book is now available for sale. I received a great deal of feedback on the second edition and I have added in some additional topics based on this. As a consequence the book has expanded by 100 pages! Thank you to those of you who have put in advance orders for your patience. For those who have purchased the previous editions, the third edition has the following new topics and changes:

  • Corporate Trustee or Individual Trustee structures:  read about the advantages and disadvantages of each trustee structure
  • Approved SMSF Auditor:  The new requirements for auditors of SMSFs from 1 July 2013
  • The new concessional contributions limit for people aged 59 on 30 June 2013
  • The additional 30% contribution tax for individuals with income above $300,000, effective from 1 July 2012
  • The new supervisory levy amounts
  • Excess concessional contribution refunds from 1 July 2013
  • Minimum pension payment requirements
  • Death benefits: understand the difference in the definition of a “dependent” under the superannuation law and the income tax law.  It will have an effect on the tax treatment.
  • Binding nominations and non-binding nominations
  • The latest Federal Court and Administrative Appeals Tribunal Cases
  • How the Income Tax Assessment Act affects your SMSF:  Anti-detriment payments; deductions for premiums paid on insurance policies; exempt current pension incomes; superannuation lump sum payments from a foreign superannuation fund.
  • How the Income Tax Assessment Act affects you:  deductions for personal contributions; low income super contributions; government super co-contributions; tax offsets for spouse contributions; small business capital gains tax retirement exemptions; super contribution splitting;  splitting superannuation interests and payments due to divorce.
  • Tax treatment of superannuation benefits:  find out the tax treatment of lump sum superannuation benefits and income stream superannuation benefits
  • The Superannuation Guarantee
  • Salary sacrifice arrangements and the Superannuation Guarantee

For new customers, please visit for more details on each chapter of the book.

I would also like to inform you that I have now resigned from my employer of 28 years being the Australian Taxation Office (ATO).  As you know the ATO is the regulator of Self Managed Superannuation Funds (SMSFs) and for the past 17 years I have worked in the Superannuation Business Line of the ATO where I have performed the following roles:

  • Technical training officer: developed the knowledge of the ATO staff on various superannuation and taxation topics
  • Technical adviser:  presented external seminars on superannuation as well as wrote superannuation speeches for senior management for their external presentations
  • Compliance officer:  audited SMSFs, audited SMSF auditors, as well as audited large SMSF auditing firms.

My book, monthly newsletters and newspaper columns are a result of my knowledge in the superannuation and taxation industry developed over the past 17 years. I am also a qualified SMSF expert and an associate member of the SMSF Professionals Association of Australia.

I have always been passionate about superannuation and I tremendously enjoy helping develop people’s knowledge on superannuation.  I am grateful to the ATO for allowing me to publish my book and write my articles while working as an employee.  To date, I have been the only person ever to have received permission to do so.  Now that I have left the ATO, I am intending to take my services to the next level and I hope to travel around Australia to present SMSF seminars.

My business website is currently being developed and I hope to have it ready in a couple of months.  The website will provide you with information on all the services that I can offer.   In the meantime, if you are interested in obtaining a copy of the 3rd edition of the book, please visit


Monica Rule is the author of “The Self Managed Super Handbook – Superannuation Law for Self Managed Superannuation Funds in plain English”.  Her advice is general in nature and readers should seek their own professional advice before making any financial decisions.