The proposed superannuation concessional and non-concessional contributions changes in the budget will impact at least 10 per cent of Class’s SMSF members, triggering the need for contribution strategy reviews as well as gaining access to lifetime contribution data.

The proposed superannuation concessional and non-concessional contributions changes in the budget will impact at least 10 per cent of Class’s SMSF members, triggering the need for contribution strategy reviews as well as gaining access to lifetime contribution data. “The government said that the $1.6 million pension cap will only affect 1 per cent of super […]

The flexibility and control associated with SMSFs mean they continue to be the most effective superannuation vehicle even in light of the changes to the industry handed down in the 2016 federal budget, according to the SMSF Association.

The federal budget’s removal of tax barriers for some retirement income products is only one piece of the puzzle and further measures are required to create greater flexibility, particularly for SMSFs.

Reserving strategies would become more powerful and relevant as a result of the new transfer balance cap of $1.6 million relating to the pension phase of superannuation funds handed down in the 2016 federal budget, according to an SMSF sector expert.

Two separate Australian Securities and Investments Commission (ASIC) investigations have resulted in one man pleading guilty to six different charges and another being charged with 31 counts of deception and one count of dishonest dealings with documents.

The federal government’s proposed changes to superannuation rules might affect as many as 85,000 SMSFs with 160,000 members, which was much more than what was suggested in the budget papers, according to BGL Corporate Solutions.