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CGT cap and SMSFs — unlocking the opportunities

Publication date: 24 Aug 17 | Source: AUSTRALIAN TAX WEEK

Issue: Issue 32, 11 Aug 2017

Pages: pp. 1-6

Abstract:

Recent changes to the superannuation regime have placed significant restrictions on the ability to contribute private wealth to superannuation funds. As of 1 July 2017, the annual concessional contributions cap has been reduced to $25,000 and the non-concessional contributions cap to $100,000. Moreover, where a member’s total superannuation balance equals or exceeds $1.6m, the member’s non-concessional contributions cap is reduced to nil.

This article considers some of the planning opportunities presented by the CGT cap to maximise superannuation account balances in the context of self managed superannuation funds. In exploring the opportunities and pitfalls of the CGT cap, the article seeks to demonstrate some of the subtleties of the concession.

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Author profiles

Josh Pascale
- Current at 24 August 2017
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Peter Slegers CTA
Photo of author, Peter SLEGERS Peter Slegers, LLB (Hons), MTax, CTA Partner Cowell Clarke Peter heads Cowell Clarke's tax and revenue practice group. Peter advises and acts for a wide range of public and private companies as well as for the trustees of self managed superannuation funds. Peter’s areas of expertise include: income tax (as it impacts on business and high net worth clients); capital gains tax; goods and services tax; state taxes and superannuation law. Peter also does succession planning work and is involved in significant business restructures. Peter is regularly involved in advising SMSF trustees on issues associated with superannuation income streams. Peter has a master’s degree in taxation from the University of NSW – ATAX School. Peter is also a member of the Australian Institute of Company Directors and the SMSF Professionals Association of Australia Ltd. Peter is a member of the Tax Institute’s South Australian State Council. - Current at 19 July 2017
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