Guide to Super Reforms

Mark McNeany & Chris Steiger
(Vertex Group)

 

With the biggest changes to super in 10 years now law, it’s important that you check your situation and see if there is anything you can do to optimise your position and make the most of the strategy opportunities up to 30 June 2017, as well as ensure you avoid penalties after 1 July 2017.

Every client has different needs, and superannuation advice is definitely not ‘one size fits all’. The ramifications of making ill informed decisions can be costly. If you find yourself in any of these circumstances below, its important you consider your position now;

 

Opportunities

  • You have not used your contribution cap yet, but could
  • You have a significant lump sum of money that you are thinking of investing into your super (property sale, inheritance etc)
  • Your total income is between $250,000 and $300,000 pa
  • You have an existing Transition to Retirement Pension
  • You have previously triggered your 3 year bring forward contribution cap but have not utilised it

Risks

  • You are currently maximising your pre tax concessional contributions up to allowable cap limits
  • You receive more than $25,000 pa in combined employer super and salary sacrifice contributions
  • You have a super or allocated pension valued at or around $1.6m or more

 

More detailed information on all the changes can be found HERE.

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