Are you thinking of starting a Self-Managed Super Fund (SMSF), or maybe you already have one? Wouldn’t it be fantastic to be in charge of your own superannuation money… You get to make the investment decisions, you’re held responsible for complying with super and tax laws, and you pay for this privilege in your own time and money (and potentially a lot of it!). Starting to sound a little more complex? Well, that’s because it is.
Have you noticed more money in your bank account? You may not be alone, with around 10,000 Australians receiving cash back from the Australian Taxation Office (ATO) in recent weeks.
Superannuation has always been a tax-friendly environment and, as such, over the years legislations have systematically reduced the amount one can contribute to super.
The Treasury Laws Amendment (Protecting Your Superannuation Package) Act 2019, received assent on 14th March 2019 and the legislative changes contained therein will take effect from 1st July 2019.
Here are some of the key changes that you may be affected by:
