The ATO has updated its guidance around exempt income for SMSFs and when segregated assets apply. It simplifies the current approach for funds that are in 100% pension phase for part of the year by allowing for assets to be classified as “segregated” for that portion of the year coinciding with pension payments.

But the ATO also stressed that actuarial certificates must still be obtained when unsegregated assets apply or even in certain circumstances when segregated assets applies.

There is some leeway given to trustees who had not applied the ATO’s latest clarification to income years 2016/17 and prior. Full details can be found on the ATO’s updated website here.

Our easy online form can also be used to assess whether your fund requires an actuarial certificate this year.

Actuarial Certificate - Online Form