With the Government releasing Treasury Laws Amendment (Better Targeted Superannuation Concessions) Bill 2023 for consultation, much of the attention will rightly be given to the calculation of earnings, however, it’s one of the earnings adjustments that has caught my eye and whilst its exclusion is welcome you can’t help but wonder why the Government have…
The release of an exposure draft by Treasury for consultation has ultimately seen what was expected from within the SMSF industry – that is, the Federal Government wasn’t really interested in listening to many of the concerns about the proposed measures to better target superannuation concessions for individuals with balances above $3.0 million. The concerns…
As we know, the General Transfer Balance Cap (GTBC) was introduced from 1 July 2017, originally set at $1.6 million, and is a cap on the how much can be transferred to a retirement phase pension for a member. It is also the threshold for determining eligibility for various contribution measures. The cap is indexed…
What topics are likely to shape the SMSF sector in the coming year? How are these likely to impact our SMSF clients? and what action should we be looking to take? These are all questions for practitioners working with SMSF clients in 2023… In one of our most popular webinars each year, leading SMSF…
With CPI having increased by 0.9% for the December 2020 quarter, we have seen the CPI figure move to 117.2, above the required figure of 116.9 for indexation to apply in respect to the transfer balance cap. This means that from 1 July 2021, the general transfer balance cap (‘general cap’) increases from $1.6 million…
