The 2023-24 Federal Budget has been handed down this evening by Treasurer Jim Chalmers.
The Association’s Policy Manager, Tracey Scotchbrook, is in Canberra and attended the key stakeholder lock-up to provide a timely summary of the Budget as it relates to the SMSF and superannuation sectors.
The SMSF Association Budget summary highlights the key and relevant changes including:
- Better Targeted Superannuation Concessions;
- Non-arm’s length income (NALI);
- Superannuation Guarantee – changes to payment frequency;
- Franking Credits and Capital Raisings;
- Expanding Part IVA General Anti-avoidance;
- Fighting Scams, and;
- Treasury Portfolio – Additional Resourcing.
At the time of publishing, the contents of this resource were accurate and correct.
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