News : Superannuation

Superannuation, Tax

Reserves captured by earnings tax

reserves earnings tax

SMSFs with reserves will probably not be able to use them to pay the proposed higher earnings tax but have them allocated to members to assess the tax.

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Superannuation

New policy hints at super objective

superannuation policies

While the government’s proposed objective for superannuation is still under consultation, new policies provide some of the detail as to how it will meet that objective.

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Superannuation

Trust in super already waning

confidence superannuation

Confidence in the retirement savings system has already been eroded by the proposal of a new super tax for member balances above $3 million.

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Superannuation

Indexation key issue for female clients

TBC indexation female

The pending indexation of the transfer balance cap and exiting an SMSF are two key areas female clients are seeking information about currently.

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Documentation, Superannuation, Tax

Balance cap has bookkeeping impact

balance SMSF record keeping

SMSF record-keeping procedures should change to minimise the tax liability for members resulting from the proposed new $3 million balance cap.

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Superannuation, Tax

Earnings tax to affect 500,000

Superannuation earnings tax

The number of superannuation fund members impacted by changes to earnings tax will be six times larger than predicted without indexation.

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Estate Planning, Superannuation

Super use in tax estate planning overstated

superannuation tax estate planning

Claims superannuation is being used for tax-based estate planning are incorrect and reflect a misunderstanding of the super tax system.

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Superannuation, Tax

Super tax details a mixed blessing

superannuation earnings tax

A fact sheet outlining how the government will further tax earnings in superannuation balances over $3 million contains mixed results for SMSFs.

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Superannuation, Tax

‘Earnings’ not assessable income

superannuation earnings

The concept of earnings pertaining to the proposed 30 per cent tax for superannuation balances over $3 million is different to assessable income.

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Superannuation

Higher tax rates for super

30 tax large superannuation balances

The government will introduce a 30 per cent concessional tax on superannuation balances above $3 million from the 2026 financial year.

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