Taking SMSF contribution strategies to the next level

  • Presentations, Technical Resource
  • Contributions

National Conference 2024

Whilst 1 July 2022 changes opened up the contribution landscape considerably with the removal of the work test for personal contributions prior to age 75, the transfer balance cap and the proposed Division 296 tax mean we shouldn’t be making contributions for contributions sake but rather looking at the end game to determine how much is too much in super and determining which strategies are right for each set of family circumstances. This session will contemplate the various strategies that should be contemplated in light of single member funds, nuclear families, couples only and blended families. It’s fair to say no two strategies will look the same.
 

Following this session you will be able to:

  • Understand and assess how the removal of the work test impacts on superannuation contributions for individuals under 75 and the broader implications it has for superannuation planning.
  • Evaluate and determine optimal contribution levels in light of the transfer balance cap and Division 296 tax, avoiding excessive contributions and focusing on long-term financial goals.
  • Acquire knowledge on tailoring superannuation strategies to suit diverse family structures, recognising that each strategy must be unique to effectively meet specific needs.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association