Total superannuation balance - Dangerous territory for the unwary
Source: The Tax Specialist Journal Article
Published Date: 1 Jun 2017
Determining a member's total superannuation balance will likely become the most perilous calculation undertaken by SMSF trustees and the advising profession alike. The concept of total superannuation balance introduces significant complexity and affects many aspects of advice regarding retirement funding strategy for those individuals approaching retirement age. This article examines how total superannuation balance operates to limit contributions to the superannuation system, restrict access to government entitlements and affects SMSF tax incidence.
The article observes that specialist understanding of the new measures is required of both ATO staff and the advising profession and concludes with the view that the days of providing casual superannuation advice are over.
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Already a Subscriber? Login now
Details
- Published By: Frederick Mahar
- Published On:1 Jun 2017
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))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
Copyright Statement
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.
Tags
Share this page