SuperGuide

Superannuation and retirement planning information

The $3 million super tax cap: What to consider with 1 year to go

The $3 million super tax cap: What to consider with 1 year to go

In just over 12 months’ time, the new tax rules that apply to earnings on super balances above $3 million will commence. That may seem a long way away, but for those of you considering changes to your SMSF, that time frame could already be rather tight!

Read more about super tax breaks to be reduced for accounts with more than $3 million.

As you would expect, there has been a considerable amount of press coverage on this issue, but what seems to be lacking is attention to the key issues that SMSF trustees and members need to consider in the time leading up to these changes.

About the author

Garth McNally

Garth has worked in the Australian Superannuation industry for over 20 years with a specific focus on self-managed super funds. He provides ongoing support and training to individuals as well as to professionals working in the superannuation area, including advisers, accountants and lawyers. He is a regular contributor to industry publications and to the leading professional bodies including Chartered Accountants Australia & New Zealand (CA ANZ).

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