The 2004 Federal Budget introduced new measures effective from 12 May 2004 that have dropped a bomb shell on the superannuation industry. These new measures, together with numerous major developments and other announcements made over the past 12 months, require practitioners to review the tax effectiveness and flexibility of superannuation, especially SMSFs.
At this seminar our presenters examined how changes to SIS regulations impact pensions and annuities, new rules for growth pensions, recent ATO rulings on real property investments and the lowering of RBL excess benefits present both risks and opportunities for your clients. The impact of the 2004 Budget on reserving strategies was also examined.
Practitioners need to be on top of these developments in order to provide effective planning advice for SMSFs and ongoing management of their client's superannuation arrangements.