FirstTech Podcast - podcast cover

FirstTech Podcast

A podcast series for financial advisers looking at the latest technical issues and advice strategies that may impact investors and super fund members. Join Craig Day and members of the Colonial First State ‘FirstTech’ team as they discuss a broad range of advice issues, from superannuation and SMSFs, to social security rules and aged care. -Please note - these podcasts are designed for authorised financial advisers. If you are not an authorised financial adviser it is important you understand the content of the podcasts may be difficult to follow as it assumes you have the necessary training, qualifications and experience to understand the concepts discussed as well as the technical language used. If you still decide to listen please understand the information contained in this recording is general information only and does not take into account any of your personal circumstances, needs or objectives. Any scenarios considered during this podcast are purely hypothetical and are for illustrative purposes only and do not constitute a recommendation to purchase, hold or sell any financial products or take any other course of action. You should read the relevant product disclosure statement before making an investment decision and consider talking to a financial adviser. While all care has been taken in the preparation of this podcast, using sources we believe to be reliable and accurate, no person including Colonial First State Investments Limited or the Commonwealth Bank group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information.

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Episodes

Question of the month: Timing & Varying Notices of Intent to Claim Super Deductions

Craig Day, Sina Heng and Linda Bruce discuss the ins and outs of varying notices of intent to claim a super deduction. In this podcast they cover increasing and decreasing the amount claimed as a deduction, as well as timing issues that can cause things to go wrong. For more information: FirstTech Did You Know Can you increase the amount claimed in a notice of intent? Hosted on Acast. See acast.com/privacy for more information....

Jun 30, 202518 minSeason 1Ep. 168

Division 296 - Super Tax Strategies & Withdrawal Timing

Craig Day and Tim Sanderson discuss the proposed Division 296 tax. FirstTech have received many questions regarding clients who have decided they want to withdraw funds from super to avoid the tax, but are unsure of the best time to make the withdrawal to reduce possible capital gains tax liabilities. For more information: FirstTech article The proposed Division 296 tax - how the new tax is likely to work Hosted on Acast. See acast.com/privacy for more information....

Jun 30, 202516 minSeason 1Ep. 167

Latest News - June 2025

Craig Day, Tim Sanderson, Richard Chen and Kim Guest discuss the latest technical news including Transfer Balance Cap indexation displaying on myGov, deferral of aged care changes to 1 November, 20% reduction in student HELP debts, scams targeting Centrelink recipients and super members, and how to order FirstTech Guides for 2025/26. For more information, see Latest News on the FirstTech site. Hosted on Acast. See acast.com/privacy for more information....

Jun 30, 202523 minSeason 1Ep. 166

Contribution splitting - Frequently asked questions

Craig Day and Linda Bruce unpack the top 6 questions advisers commonly ask about the popular strategy of splitting concessional super contributions Hosted on Acast. See acast.com/privacy for more information.

May 31, 202525 minSeason 1Ep. 165

Latest News - May 2025

Craig Day, Kim Guest and Peter Wheatland discuss the latest technical news including an update on the proposed Division 296 tax, guidance issued by the FAAA on the deductibility of financial advice fees, the Centrelink deeming rate freeze and 3 tips to make the end of financial year go smoothly. For more information see the FirstTech article 2024-25 end of financial year strategies Hosted on Acast. See acast.com/privacy for more information....

May 31, 202518 minSeason 1Ep. 164

Division 296 - Where are we now?

Craig Day is joined by SMSF Association CEO Peter Burgess to unpack the revived Division 296 super tax proposal. In this episode they clarify how the tax works, including the controversial inclusion of unrealised capital gains, and what advisers need to consider now. Hosted on Acast. See acast.com/privacy for more information.

May 31, 202546 minSeason 1Ep. 163

Updating investment balances with Centrelink: Tips and Timing

Craig Day and Kim Guest discuss the process of updating investment balances with Centrelink, including account based pensions, super in accumulation phase, shares, managed funds and bank balances. Does a client need to update Centrelink or does Centrelink receive the updated values automatically? Hosted on Acast. See acast.com/privacy for more information.

May 10, 202514 minSeason 1Ep. 162

Consequences of an SMSF failing the minimum pension standards

Where an SMSF paying an account based pension fails the pension standards such as not paying the minimum annual payment, it can have significant consequences. The can include increased fund tax liabilities and the merger of a members different super interests. In addition, following recent ATO guidance it could also trigger a range of transfer balance cap issues and require trustees to navigate significant additional complexity. Hosted on Acast. See acast.com/privacy for more information....

May 10, 202532 minSeason 1Ep. 161

Latest News - Federal Election wrap up and more...

In this special edition of Latest News, following the Federal Election we delve into the winning parties policy announcements that impact financial advice, including taxation and housing policy. Hosted on Acast. See acast.com/privacy for more information.

May 10, 202528 minSeason 1Ep. 160

End of financial year super strategies 2024-25

As we approach the end of the financial year, it's a great time to review year-end super strategies and get ready for the new financial year. Craig Day and Linda Bruce. Hosted on Acast. See acast.com/privacy for more information.

Mar 29, 202542 minSeason 1Ep. 159

Latest News - March 2025

Craig Day, Tim Sanderson, Alex Denham and Kim Guest discuss the latest technical news including Payday Super, aged care reforms and lifetime income streams. Hosted on Acast. See acast.com/privacy for more information.

Mar 29, 202520 minSeason 1Ep. 158

Navigating minimum annual pension payment rules

Craig Day and Tim Sanderson discuss the minimum annual payment requirements for account based pensions in a variety of circumstances including partial commutations, full commutation and rollover, or where a client dies part way through a financial year. For more information see the FIrstTech article Minimum payment requirement when commuting account-based pensions . Hosted on Acast. See acast.com/privacy for more information....

Mar 29, 202510 minSeason 1Ep. 157

Understanding Powers of Attorney

Craig Day and Hayley Mitchell (Coopers Grace Ward), delve into the details of Enduring Powers of Attorney, covering the scope of authority granted to the attorney, as well as the limitations on their actions. Hosted on Acast. See acast.com/privacy for more information.

Mar 05, 202535 minSeason 1Ep. 156

Commuting a TAP under legacy pension rules

Craig Day, Tim Sanderson and Kim Guest discuss new regulations which allow members receiving non-commutable legacy income streams, including complying Term Allocated Pensions (TAPs), to fully commute and exit their income stream within a five-year amnesty period. For more information see the FirstTech article Commuting a TAP under legacy pension amnesty rules Hosted on Acast. See acast.com/privacy for more information....

Mar 05, 202524 minSeason 1Ep. 155

Latest News - February 2025

Craig Day, Linda Bruce, Tim Sanderson, Peter Wheatland and Kim Guest discuss the latest technical news. Hosted on Acast. See acast.com/privacy for more information.

Mar 05, 202532 minSeason 1Ep. 154

Exceeding the non-concessional contributions cap - options

It's that time of year when clients may receive an excess non-concessional contribution determination from the ATO. Craig Day and Tim Sanderson discuss the 3 options that are available for dealing with the excess. Hosted on Acast. See acast.com/privacy for more information.

Dec 10, 202419 minSeason 1Ep. 153

Latest News - Nov/Dec 2024

Craig Day, Tim Sanderson, Kim Guest, Alex Denham, Richard Chen & Sina Heng discuss the latest technical news: - What happened in the last days of Parliament - New Aged Care Act awaits Royal Assent - Reforms to the retirement phase of super - Payday super update - Will the transfer balance cap increase to $2M from 1 July 2025? Hosted on Acast. See acast.com/privacy for more information....

Dec 10, 202420 minSeason 1Ep. 152

New Tax Determination clarifies deductibility of advice fees for individuals

Craig Day and special guest Tony Negline discuss Tax Determination TD 2024/7, which updates the ATO's view on what part of the cost of advice provided by a financial adviser to an individual client, can be claimed as a tax deduction. It is important to note this Tax Determination discusses the deductibility of advice fees paid directly by individuals who are not carrying on a business, it does not cover the tax treatment of advice fees deducted from a client’s superannuation account. Hosted on A...

Dec 10, 202430 minSeason 1Ep. 151

Legacy pension conversions and reserves

Craig Day and Tim Sanderson discuss draft regulations that will allow the commutation of certain non-commutable legacy income streams plus amendments to allow the allocation of any resulting reserve amounts without them counting against a member’s contribution caps. Hosted on Acast. See acast.com/privacy for more information.

Nov 08, 202421 minSeason 1Ep. 150

Major changes to home care

Craig Day and Kim Guest discuss the new Support at Home program which is proposed to commence 1 July 2025. Hosted on Acast. See acast.com/privacy for more information.

Nov 08, 202415 minSeason 1Ep. 149

Latest News - October 2024

Craig Day, Tim Sanderson, Linda Bruce & Richard Chen discuss the latest technical news: - Upcoming Federal Budget - Accessing super under compassionate grounds - AAT case: application to disregard or reallocate non-concessional contributions - Federal court case: Tax impact of receiving a lump sum payout of income protection insurance - Update on proposed legislation - Aged care & Division 296 Hosted on Acast. See acast.com/privacy for more information....

Nov 08, 202425 minSeason 1Ep. 148

Are TTR strategies still effective?

Craig Day and Tim Sanderson discuss the effectiveness of TTR strategies, taking into account recent changes in concessional caps, SG rates and marginal tax rates. Hosted on Acast. See acast.com/privacy for more information.

Oct 01, 202431 minSeason 1Ep. 147

Major aged care changes from 1 July 2025

Tim Sanderson and Kim Guest discuss aged care reforms proposed to commence 1 July 2025 Hosted on Acast. See acast.com/privacy for more information.

Oct 01, 202422 minSeason 1Ep. 146

Latest News Sept 2024

Craig Day, Tim Sanderson, Peter Wheatland and Kim Guest discuss the latest technical news. Hosted on Acast. See acast.com/privacy for more information.

Oct 01, 202432 minSeason 1Ep. 145

Homeloan offset accounts vs redraw facilities

Craig Day, Linda Bruce and Kim Guest compare the taxation and Centrelink implications of homeloan offset accounts vs redraw facilities. Hosted on Acast. See acast.com/privacy for more information.

Sep 02, 202422 minSeason 1Ep. 143

Latest News - August 2024

Craig Day, Linda Bruce, Tim Sanderson and Kim Guest discuss the latest technical news. Hosted on Acast. See acast.com/privacy for more information.

Sep 02, 202426 minSeason 1Ep. 142

Latest News - July 2024

Craig Day, Linda Bruce, Richard Chen and Kim Guest discuss the latest technical news. Hosted on Acast. See acast.com/privacy for more information.

Aug 06, 202439 minSeason 1Ep. 141

Super contributions & the law of mistake

Kim Guest interviews Craig Day regarding the law of mistake and when it may be applied in relation to the return of super contributions. Hosted on Acast. See acast.com/privacy for more information.

Aug 06, 202418 minSeason 1Ep. 140
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