Do I really need to update my fund’s trust deed?

Current as of 29 April 2021 Your superannuation trust deed along with the superannuation laws, form the governing rules that self-managed super funds (SMSFs) need to operate by. The introduction of the $1.6 million transfer balance cap (TBC) back on 1 July 2017 and new transition to retirement income stream (TRIS) rules were a ‘game changer’ for SMSFs when discussing … Read More

Superannuation changes from 1 July 2017 – The law has passed!

Current as of December 2016   The 2016 Federal Budget’s superannuation reforms were legislated last week, so the haze of uncertainty surrounding these new changes has lifted. Among these new laws is the provision of Capital Gains Tax (‘CGT’) Relief. This allows the cost base of assets to be re-allocated from the pension phase, back to the accumulation phase, in … Read More

The $1.6m transfer balance cap explained

Current as of November 2016   Now that all three tranches of the Federal Budget’s proposed superannuation reforms have been introduced to parliament, greater clarity has emerged in regards to the mechanics of the $1.6 million transfer balance cap, and the interaction it will have with non-concessional contribution caps (‘NCC’). What is this $1.6m transfer balance cap? The $1.6m cap … Read More

2016 Federal Budget Superannuation reforms – the next steps

Current of October 2016   Last month the government had its first sitting of Parliament since the election and though they released some draft legislation for comment, we expect more changes in the forthcoming months of this superannuation reform journey. Latest proposals The annual limit of Non-Concessional Contributions (‘NCCs’) will be reduced to $100,000 from the current cap of $180,000 … Read More

September 2016 Newsletter

          Current as of September 2016   DO YOU HAVE AN UNWANTED FAMILY TRUST? There is more than one reason for winding up a Family Trust. Perhaps the beneficiaries have become old enough to look after their own assets, there may have been a family dispute, or sometimes the Trust simply reaches the end of its … Read More

2016 Federal Budget and Superannuation – Where are we now?

Current as of September 2016   Since the 2016 Federal Budget on 3 May, and the Federal Election soon after, not much has happened in regards to the proposed changes to superannuation. However, last week the government released draft legislation, which is now open for submissions until 16 September and summarised below. This has been the first clear indication that … Read More

June 2016 Newsletter

          Current as of June 2016 [vc_row][vc_column width=”/3″] 2016 SUPERANNUATION YEAR END PLANNING With the end of another financial year looming, now is the time to review the last minute strategies to make sure that you are maximising your contributions and managing your pension payment limits correctly. Our article provides some helpful tips to help you. … Read More

2016 Superannuation year end planning

Current as of June 2016   With the end of another financial year looming, now is the time to review the last minute strategies to make sure that you are maximising your contributions and managing your pension payment limits correctly. FOLLOWING ARE SOME TIPS TO HELP YOU MAXIMISE YOUR CONTRIBUTIONS The 2016 Federal Budget announced an immediate introduction of a … Read More

May 2016 Newsletter

          Current as of May 2016 [vc_row][vc_column width=”2/3″] BUDGET MEASURES FOR SMALL BUSINESSES The Federal Budget was handed down on 3 May. A few days later, the Prime Minister confirmed that we would be heading to a 2 July election, leaving us with a caretaker government until then. In short, this leaves a high degree of … Read More

What does the budget mean for superannuation?

Current as of May 2016   It has been a fortnight since the 2016 Federal Budget was delivered by the Turnbull government and unlike previous years, there were many proposed changes to superannuation. With such significant superannuation reforms in an election year, there is a lot of water to go under the bridge until they actually become law, however this … Read More