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…
There was a point in time earlier this year due to the coronavirus pandemic, that the proposed changes from 1 July 2020 to increase the age limit to make contributions would not take effect as intended. However, we have now seen Superannuation Legislation Amendment (2020 Measures No. 1) Regulations 2020 registered, in which makes amendments…
In our blog post titled, ‘once indexation starts, let the fund begin’ on 2 December 2019, we spoke about the potential for indexation of the general transfer balance cap (‘general cap’) where the CPI figure for December 2019 is 116.9 or higher. Well, the Australian Bureau of Statistics’ CPI figure released on 29 January 2020…
There’s been plenty to consider since the introduction of the super reforms post 1 July 2017 – CGT relief, the introduction of the transfer balance cap and total super balance (TSB) to name a few…From a transfer balance cap (TBC) perspective, things have been relatively straight forward with an individual’s personal TBC (‘personal cap’) aligned…
Earlier in 2019 against the backdrop of an election, there were a range of measures impacting SMSFs and superannuation more broadly that we on a knife’s edge as to whether they would proceed – refer to our blog post ‘Super measures – what made it and what didn’t’ to read further. With the Coalition re-instated…