Source: Taxation In Australia Journal Article
Published Date: 1 May 2017
With the announcement of the federal Budget on 2 May 2016, superannuation laws regarding pensions were tipped to change. After the ensuing re-election of the Coalition, it can be easy to forget that we have had almost a year to get used to the idea of the transfer balance cap. The questions surrounding this new legislation have been varied and expansive. What specifically is the new law, and what are the opportunities for clients and practitioners? What are the issues when a member has more than $1.6m?
What are the options when there is more than one member in the fund? How should we deal with succession or estate planning? The ability to articulate tax changes to your clients, with examples and practical guidance, is invaluable for any major new law coming into effect.
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