Whoops, it, a seminar put on by a fund manager, was called ‘riding the raft of super changes= contributions’ that we attended last week.
Our conclusion was that
· Who wants to run their own SMSF?
· Who wants to invest via Super?
· Who else but District 1 or the Insiders could make this up?
· Who else would define taxx deductible as ‘concessional’ & your own money as ‘non-concessional’
How condescending!
We commented to the MC that it was all ‘cheese in the trap’
And we note today from the same fund manager’s technical team
The complex and ongoing changes to superannuation will drive individuals to seek advice,
the government's superannuation reforms and described them as "fair and sustainable", but also said it will be incredibly difficult for members to manage on their own.
some of the amendments which will take effect on 1 July:
- The removal of fund-capped contribution limits;
- The establishment of a new accumulation interest for retail super funds when paying a super lump sum as a result of a commutation authority issued under the transfer balance cap system, and without the need of an application form at the time of commutation;
- Commutations from income streams not counting towards a pension's minimum drawdown requirement, and similarly it will not be possible to elect a pension payment to be taxed as a lump sum withdrawal; and
- Certain defined benefit funds can elect out of offering personal deductible contributions to their members.
One item that did not pass into law, was the proposed relief to retain actuarial certificates for SMSFs and Small APRA Funds (SAFs) using the proportionate method to calculate their Exempt Current Pension Income if the fund was only paying account-based pensions or term allocated pensions.
Note. We don’t like direct property either as the costs are too high & there are better returns in the long run elsewhere
There must be a better way and let us suggest , maybe condescendingly , that you want an outsider looking in.
We believe that we can generate financial certainity for you & suggest that you completing our 5 minute financial checkup may help you help your self.
As others do call us on 07 3848 1088 or This email address is being protected from spambots. You need JavaScript enabled to view it.or visit our websites
John McAuliffe
