The federal government’s non-concessional contribution (NCC) maximum threshold of $1.6 million has uncovered a set of new issues for the industry, with SMSF practitioners looking for answers to take back to their clients following the backflip on the lifetime NCC measure last week.

The federal government’s move to scrap the backdated limit of the $500,000 lifetime non-concessional contributions (NCC) cap for superannuation is mostly good news for retirement income planning, the Institute of Public Accountants (IPA) has said.

The SMSF Association believes the federal government’s new policy for superannuation non-concessional contributions (NCC) will reduce administrative complexity, as well as increase opportunities for adequate retirement savings.

SMSFs with smaller balances were not found to be uneconomical over extended periods as some industry commentary has long suggested, the latest analysis from Class has revealed.

The federal government has changed the proposed super legislation, replacing the $500,000 lifetime non-concessional contributions cap with a yearly limit of $100,000.

The government has changed the proposed super legislation replacing the $500,000 lifetime non-concessional contributions cap with a yearly limit of $100,000. Addressing a press conference this morning, Treasurer Scott Morrison said: “The measures are as follows to replace the lifetime non-concessional cap with an annual cap of $100,000 with a three-year bring-forward limited to those […]

The County Court of Victoria has convicted and sentenced Barry Patrick to six years and three months imprisonment after he pleaded guilty to six charges following an investigation by ASIC.