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220207.2 CPD assessment The new ECPI choice rules - what they mean and how to apply them

The new ECPI choice rules – what they mean and how to apply them

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When does a fund require an actuarial certificate to claim exempt current pension income (ECPI)? *This question is required.
An SMSF is claiming exempt current pension income (ECPI) using the proportionate method and has obtained an actuarial certificate with an exempt percentage of 65.75%. It has the following assessable income:
  • Investment income: $65,650
  • Assessable contributions: $35,400
  • Net assessable capital gains: $46,540
  • Non-arm’s length income: $16,250
What is the SMSF’s claim for ECPI? *This question is required.
An SMSF has two members, Bert and Ernie. At 30 June 2022, their respective total superannuation balances were as follows:
  • Bert: $1,650,000 all in accumulation account.
  • Ernie: $1,225,000 all in an account based retirement phase pension.
During 2022-23 Bert commenced an account based retirement phase pension on $1,665,000, being all of his benefits held in the SMSF.

For the 2022-23 income year, does the SMSF have disregarded small fund assets? *This question is required.
An SMSF will have a choice of calculating and claiming exempt current pension income where? *This question is required.
An SMSF has a CGT event that results in a significant capital gain during a period of deemed segregation. The fund is eligible for ECPI choice. Generally, should the SMSF trustee(s) make the choice to apply the proportionate method for the entire income year?
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