A solution to clarify the earnings tax within an SMSF already exists and could be provided by actuarial certificates.

Equalisation strategies may increase in their appeal as a method to counter the proposed new tax on member balances above $3 million.

Superannuation will remain the best vehicle to manage retirement savings despite proposals to increase tax on earnings for some fund members.

The government’s planned move to add a higher tax on superannuation earnings is inconsistent with claims the new tax would be an equitable measure.

Immediate withdrawal of monies from SMSFs to ensure member balances are below $3 million to avoid the proposed new tax is unnecessary.

Using a deeming rate to calculate the proposed 30 per cent charge on super balances over $3 million may not generate a better outcome for individuals.