Note: This paper was delivered at both the Victorian and Tasmanian Conventions in 2008 (9-11 October and 17-18 October respectively).
Having a detailed understanding of the contribution and cashing rules for superannuation can allow you to maximise strategies and avoid problems. This paper addresses some of the more common questions that are raised by financial planners and also highlights certain benefits or opportunities clients may be missing out on. Topics covered include:
- know the ‘bring forward rule'
- utilising the transitional concessional contribution cap
- foreign super fund transfer limitations
- understanding the ‘Retirement' condition of release
- problems with transition to retirement rules.