p15

Is your SMSF Deed non compliant?

As you may be aware, the law governing superannuation in general, and Self Managed Superannuation Funds in particular, is regularly evolving. Supernova continuously monitors the changes that occur in self managed superannuation to ensure you are kept up to date with the latest changes, and we believe now is a good time to have the[…]

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Transfer Balance Cap reporting – what does it mean for you?

From 1 July 2017, superannuation fund members are subject to a $1.6 million transfer balance cap (TBC) which limits the tax exemption for assets funding superannuation pensions. The TBC encompasses a significant amount of monitoring for an individual.  This monitoring is to be facilitated by the Australian Taxation Office’s (ATO) event-based reporting framework. Event-based reporting[…]

budget

Budget 2018 Superannuation Changes

  The Government has not made any major changes to Superannuation in the 2018 budget but there are still some minor tweaks to be aware of: 12 Month work test exemption for certain members over 65 Maximum SMSF Members to be increased from 4 to 6 Ability for large income earners to elect not to receive[…]

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2017-18 Superannuation Tax Rates and Thresholds

We have produced a comprehensive reference guide to the latest Superannuation Rates and Taxes providing a quick check of contributions limits, conditions of release and tax rates etc.. You can download the reference guide and always have the current rates close at hand We also have a number of resources available. The forms checklists and[…]

Set apart

Capital Gains Tax Relief – Start planning now

The changes to superannuation announced in the 2016 Federal Budget have been passed by Parliament. Amongst the changes was legislation which provides CGT relief for members who are transferring assets out of retirement phase in 2016/17 to comply with the changes. In essence, the legislation allows you to reset the cost bases of assets in[…]