Source: http://asquaredadvisers.com.au/Blog/(month)/3/(year)/2017
Timestamp: 2017-07-27 20:47:23
Document Index: 301780054

Matched Legal Cases: ['art 1', 'art 2', 'art 2', 'art 3', 'art 3', 'art 4', 'art 4', 'art 5', 'art 5']

Changes to Superannuation - Summary - Part 1 of 6
24/03/2017 1:04 am
The biggest changes to superannuation in ten years have arrived. In summary, these are:The introduction of a $1.6m personal pension transfer capRemoval of tax exemption within superannuation funds for funds paying Transition to Retirement Income Streams (TRIS) Capital Gains Tax Relief for certain superannuation funds in 2017 Other tax changes including:Removal of ability to segregate assets for tax purposes, for some superannuation fundsAdditional personal income tax on non-commutable income...
Changes to Superannuation - Personal Pension Transfer Cap of $1.6m - Part 2 of 6
24/03/2017 12:57 am
This blog article is part 2 of our 6 part series on the superannuation changes. You can access the summary with links to all six parts on our summary blog.Introduction of a Pension Transfer Cap On 1 July 2017 the member balance you can have supporting a pension in superannuation will be limited for the first time in many years.In the past few years there has been no limit on the amount of money you can have in super, or that you can use to start one or more pensions or income streams. That a...
Changes to Superannuation - Transition to Retirement Income Streams - Part 3 of 6
24/03/2017 12:51 am
This blog entry is part 3 of our 6 part series on the changes taking place from 1 July 2017. You can access the summary and all blog articles in the series from this page.Transition to Retirement Income Streams (TRIS)Tax exemption in fund removed Until 30 June 2017, superannuation funds who pay transition to retirement income streams receive tax concessions on the earnings from assets supporting the transition to retirement income stream. For example, lets say a member has $1m in accumulatio...
Changes to Superannuation - Capital Gains Tax Relief - Part 4 of 6
24/03/2017 12:46 am
This is part 4 of our 6 part series on the changes to superannuation. You can access the master index on this page.Capital Gains Tax Relief There will be a one-off capital gains tax relief which applies in the 2017 year to offset some of the impact of the changes. The CGT relief will apply at an asset level, not fund level and applies only to assets held on 9 November 2016. Trustees can choose whether to apply the CGT relief, and to which assets to apply the relief.There are two methods of c...
Changes to Superannuation - Other Tax Changes - Part 5 of 6 24/03/2017 12:44 am
This blog entry forms part 5 of our 6 part series on the changes to superannuation taking effect 1 July 2017.To access the master index, please click through to this page.Extra tax on non-commutable income streams If a member is receiving pension income from a non-commutable income stream and the annual payments to the member are greater than $100,000, these pensions are subject to special tax treatment. Account Based Pensions (the most typical pension paid by self managed superannuation fun...
Taxation of Lump Sum Inducements in the Health Industry
20/03/2017 2:44 am
In recent years it has become more common for medical practices run by large corporates to offer health professionals, particularly general practitioners, a large lump sum inducement to purportedly sell the goodwill in their own business. At the same time the health professional is expected to enter a contract for service for a specified period, often 5 years. Some practitioners had previously sought to treat these proceeds as a capital gain on disposal of goodwill and apply the small busine...