This presentation covers recent Government announcements affecting the Superannuation industry. The sum of all these changes means that advisers are faced with a changing landscape entailing both compliance obligations as well as planning obligations. Specific topics covered include:
- TR 2011/D3
- New Super Guarantee Rates
- Higher concessional contributions cap for over 50s deferred to 1 July 2014
- Dealing with Excess Contributions Tax
- FOFA - The Accountants' exemption
- Superannuation contributions tax to double to 30% for incomes above $300,000
- Update to PSLA 2009/1 In-house Assets
- Collectables and Personal Use assets
- New SMSF member verification system
- Off-market transfers between SMSFs and related parties
- Net Market Valuation for annual reporting purposes
- Dealing with insurance in SMSFs.