Is your head in the SMSF Reform game?

Super Reforms - Unfortunately, we can't ignore them

Do you have your head around what your clients – and your firm – needs to do leading up to the Super Reforms? To help Accountants navigate through what needs to be done before and after 30 June 2017, Saul SMSF has prepared a Practice Readiness evaluation test to assess if your firm is ready for the Reforms and which areas you might need to focus more attention to.

Here are just some of the issues and opportunities you might want to consider:

• Existing salary sacrifice, timing of payments and the impact of reductions in concessional contributions

• Opportunities to split contributions between spouses from 2015/16 year to keep member total super balances under $500,000

• Allowable withdrawals to make non-concessional contributions to a spouse

• Tax deductions for personal super contributions as a result of removal of the 10% rule

• Tax offsets for spouse contributions

• Opportunities to make non-concessional contributions up to the new cap

• In-specie contributions allowed under the exception within section 66(2) of the SISA

• Debt forgiveness opportunity whereby related party lender can forgive part of SMSF loan and treat as a non-concessional contribution

• Final opportunity in 2016-17 to transfer fund assets and count towards the minimum pension obligation

Is your Practice Super Reform ready?

Take our Practice Readiness online evaluation.

Are your clients Super Reform ready?

Download our Client Readiness Checklist.

Ask the Experts

Contact Saul SMSF for more information or specific advice.