The May 2023 edition of TechniView features:

  • Transfer balance cap reporting
  • Applying for a private ruling
  • Timing superannuation contributions
  • Protected person definitions are not all the same.

The government recently announced proposed changes to the taxation of superannuation accounts with balances of more than $3m. While not yet legislated, we have prepared a client-friendly summary of the proposed changes that have been announced. The change is not due to be introduced until 1 July 2025 and is subject to the successful passage of legislation.

With the general transfer balance cap increasing to $1.9m from 1 July 2023, new opportunities arise for clients wishing to maximise their non-concessional contributions to superannuation.

Withdrawing some of your super now and recontributing it back into super as a ‘tax-free’ component could save your adult children tax in the future if they receive your super death benefits

This Fact Sheet explores accessing superannuation on grounds of temporary incapacity

Account based pensions have minimum income requirements that are addressed in this Fact Sheet

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2 Corporate Court
Bundall QLD 4217

Phone:
1300 557 598

Email:
enquiries@lavista.com.au

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