Tag: superannuation

With a 1 July 2017 start date, there is not much time to adjust your superannuation strategies.  The 2016 Federal Budget superannuation changes have recently been legislated and are the...

In light of the Federal Budget and given the media's tendency to focus on the unfavourable superannuation changes, this month's Wealth Pipeline focuses on the positive takeaways from the proposals. If the legislation is passed, the below changes will come into effect 1st July 2017.

It is fairly common knowledge nowadays that superfunds can borrow. What is less known is that there are no restrictions on who superfunds can borrow from. Assuming that the loan is structured in a compliant manner, SMSF members can lend moneys to their SMSF.

These issues must be considered and resolved if such a proposal was to be implemented by a future government and any proposal will need to be followed up by genuine and meaningful consultation to work through implementation issues. Whether the measure announced by the ALP ever sees the light of day, we don’t know. However, what we can be certain about is that change in the long term will occur to address the Budget deficit and redistribution of superannuation tax concessions. 

Preservation age is the age a member must reach before their super can be accessed. The main catalyst for penning this wealth pipeline was to remind our clients that as of 1st of July 2015, the preservation age will commence to increase from age 55 up to 60.