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Proposed Super Changes

Should Taxpayers take acti...

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Major Changes to Social Security Asset Thresholds on 1 January 2017

There have been major changes made to the social security asset thresholds that will come into effect from 1 January 2017

Click here to view the new thresholds

Proposed Super Changes

18 Feb 2016 4:12 PM -

Should Taxpayers take action as a result of proposed super changes?  Or is it only political hot air?

 

 

Proposed super changes only political hot air – or are they?

 

A lot has been said in the media about a crackdown on superannuation tax concessions in the 2016 federal budget.

 

As we know there is always a lot of hot air surrounding politics with many ideas floated in the public domain through the media to test the voters’ acceptance or outrage.  Should super fund members react to these ideas and take action?

 

Members should not forget about the benefits that they are entitled under the current system and may think about getting on the front foot by maximising these benefits now.

 

Some of the things to think about include:-

1.       Maximising your contributions.

2.       Reviewing your pension arrangements.

3.       Re-allocating super balances between spouses.

4.       Review the timing of asset sales within a SMSF and outside of super.

 

As super rules are very complicated and every person’s circumstances are different you should always seek professional advice before taking any action.

 

Selby Watson & Co, in conjunction with your financial planner are always available to assist and advise you.

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Selby Watson & Co are Chartered Accountants who help individuals and businesses to have quality of life by helping them manage their taxation, business and financial affairs.

Although we are one of Wagga Wagga's longest established accounting firms (est.1947), you can be assured that our advice is backed by up-to-date systems and technology.

All of our accountants and support team are locals so we understand the needs of our community, as we go that extra mile with the friendliest of service.

 

 

We welcome new clients

Thinking about switching to an accounting firm that cares about your success? Let our friendly team share with you the services we can offer.

Your first confidential consultation with us is FREE of charge with absolutely no obligations. We are always more than happy to meet new people.

Come in, sit back and chat over a nice warm cup of coffee. Alternatively our qualified accountants can visit you. Email our Receptionist today to book your first consultation: admin@selbyco.com.au

 

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