Flaws in the new Superannuation Proposals | North Advisory

We'd love to help you build a successful business and grow your personal wealth. Get in touch to book a free consultation.

    Flaws in the new superannuation proposals

    Posted by Northadvisory on June 17, 2016

    The link below provides a good insight as to what professional bodies are doing in regards to the proposed superannuation changes.

    In summary, four association representing investors have written to the Prime Minister, the Treasurer and Assisting Treasurer highlighting major flaws in the new superannuation proposals.

    The areas that have been bought to the attention of the Prime Minister, the Treasurer and Assisting Treasurer are;

    • The $1.6m transfer balance cap applies retrospectively to transfers already made to pension accounts
    • Retrospective $500k non-concessional contributions cap
    • Incorrect valuation of the $1.6m transfer balance cap
    • Ability to top up
    • Concessional contributions cap

    Five fundamental flaws in the Government’s superannuation policy

    If you have any questions around the new superannuation proposals please feel free to call

    Martin van der Saag
    T: 02 9984 7774
    E: martinv@nac.com.au

    Cayle Petritsch
    SMSF Specialist Advisor
    T: 02 9984 7774
    E: caylep@nac.com.au

    Read more Superannuation articles.