Recently ATS Advise Services and ATS Partners held a Superannuation Changes Seminar to inform our client of changes to Superannuation which may effect them.
We had a great turn out at our two sessions held at Quest Wodonga, and we thank those who attended.
On 1 July 2017, some rule changes will come into effect that may impact your retirement strategy and possibly the contributions you make into superannuation.
We feel it is important to review your current situation to assess the impact of these changes and any amendments that may be required.
Some of these changes include
The cap on concessional (pre-tax) super contributions will reduce from $30,000 per annum or $35,000 per annum (depending on age) to $25,000 per annum.
The cap on non-concessional (after-tax) super contributions will reduce to $100,000 per annum (currently $180,000 per annum) and $300,000 when using the ‘bring-forward’ rule (currently $540,000). Other conditions will apply.
From 1 July 2017, a cap of $1.6 million will be introduced that limits the amount that can be held in the retirement (pension) phase of super. Taking action before 30 June means you could potentially benefit from capital gains tax relief.
For further information please contact us here at ATS Partners.