Technically Speaking: End of financial year essentials 2023

With 30 June 2023 just around the corner, now is a great time to get across your clients’ past, current, and future contributions to maximise contribution opportunities. It is also the last chance to review any clients in pension phase to ensure they meet their income drawdown requirements before 30 June 2023.

This technical bulletin provides:

  • insight into a number of technical and practical nuances that arise with the relaxation of the contribution rules and the indexation of the transfer balance cap (TBC);
  • a close look at the importance of managing your client’s Total Super Balance (TSB), particularly under the TBC regime and the Government’s proposal to introduce a $3m super cap tax;
  • a better understanding of the need to look at opportunities to rebalance superannuation benefits between couples; and
  • a refresh on obligations that must be met by 30 June 2023, such as compulsory SG contributions, minimum pension payments and much more….

Login to view the paper below.

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

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. 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 paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association