Source: Taxation In Australia Journal Article
Published Date: 1 Feb 2017
The new $1.6m transfer balance cap superannuation measures became law late last year. This article highlights the CGT issues that need to be considered by trustees of SMSFs and their advisers affected by the new transfer balance cap measures, which require complying superannuation funds to reduce the assets supporting income streams payable to members in the retirement phase to no more than $1.6m at 30 June 2017.
A number of concessional CGT choices are in place to provide relief, allowing members with a pension balance in excess of $1.6m to transfer to the new tax regime. Significantly, relief does not apply automatically but requires a written choice in the approved form and consideration will need to be given to the specific choices to be made, the assets to be subject to any cost base reset or CGT deferral, and the ongoing management of the fund to achieve the desired outcomes.
Carbon farming – What is it and how can farmers benefit? - Paper 08 Mar 2023
Carbon farming – What is it and how can farmers benefit? - Presentation 08 Mar 2023
Carbon farming: tax issues for primary producers - Journal 01 Oct 2022
A practical paper for the accidental property developer - Paper 09 Jun 2020
Session 19.1: So you like your trusts quirky - Video 11 Mar 2020
Trust asset revaluation strategies revisiting the practice - Journal 01 Mar 2020
SA land tax developments: Aggregation avalanche - Journal 01 Nov 2019
Small business restructure roll-over: Planning issues - Journal 01 Mar 2019
Small business CGT concessions - Complex issues and optimal strategies - Presentation 28 Mar 2018
Transfer balance cap: post-30 June 2017 issues - Journal 01 Dec 2017
Powers of attorney and SMSFs - Paper 14 Sep 2018
Powers of attorney and SMSFs - Presentation 14 Sep 2018
Succession planning - The superannuation issues - Paper 15 Sep 2017
Succession planning - The superannuation issues - Presentation 15 Sep 2017
Pensions workshop - Presentation 05 May 2017
Changing stamp duty landscape and real property transfers - Presentation 26 Feb 2016
Changing stamp duty landscape and real property transfers - Paper 26 Feb 2016
Post SA budget business restructuring opportunities - Case studies & solutions - Paper 15 Oct 2015
Post SA budget restructuring opportunities - Presentation 15 Oct 2015
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.