More superannuation changes this week!

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More superannuation changes this week!

Chartered accountant sydney

We hope you are enjoying your Friday.

Thankfully the $500K non-concessional (after tax contributions) lifetime cap backdated to 30 June, 2007 has been scrapped.


It is to be replaced by the ability to continue to contribute non-concessionally up to $100,000 p.a. from 1.07.17, provided your member balance is below $1.6 million.**

Note the three year bring forward rules continue to apply, so this would make it up to $300,000.**

2017 shall certainly be an vital wealth planning year.


It is important to note that the contributions cap for year ended 30 June, 2017 of $540,000 is effectively back on the table, depending on your contributions this year, and prior two years, and your overall member balance *.


Interest rates are at historic lows…what to do with your cash?

Exciting news for team AGM…

Andrew is in the process of completing ‘securities’ advice, to add to my Graduate Certificate in Financial Planning, CA SMSF specialisation qualification and authorised rep of Merit Wealth.

We shall soon be able to recommend individual and highly efficient asset class exposure to Australian and International Equities via direct shares or listed exchange traded funds…

We shall keep you informed about any further superannuation changes.

Best Wishes,



* Yet to be clarified is if you have a balance exceeding $1.6 million, can you still contribute $540,000 pre 30 June, 2017. Given concessions are limited above this level within the fund, all other options need to considered carefully prior to entering into any significant transactions such as this.

** You need to check your individual situation carefully, as significant adverse financial consequences can occur if making contributions without seeking professional advice.

Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. This email does not take into account your personal circumstances and we accept no responsibility for persons acting on information contained herein.

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