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
Director
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.