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Superannuation Reform Deadline … Are you Ready?

With the biggest changes to superannuation only 3 months away, it is critical that superannuation members seek professional advice in relation to identifying strategies to optimise their retirement savings and income streams prior to the new Superannuation Reforms taking effect on 1 July 2017. Any members of a SMSF, Industry or Retail Fund who identifies with one or more of the following, will have strategies available to them to minimise the impact of superannuation reforms on their wealth and income streams. These apply to members who:-
• Commence a Transition to Retirement Income Stream (TRIS) before 9 November 2016 that faces losing the tax-exempt treatment of its investment earnings from July 1; ➤ are nearing retirement age and have the capacity to make additional superannuation contributions;
• Have a total member balance of more than $1.6 million in superannuation; ➤ are nearing retirement and have an accumulation account balance of more than $1.4 million.
Clients identified meeting one or more of the above will be contacted by our office in the coming weeks to implement a properly constructed strategy prior to 1 July.