There are some major changes affecting SMSF starting from 1 July 2017.
A summary of the most significant changes are as follows (acknowledgement to Macquarie, Super reform 2017 guidance):
- the introduction of a $1.6 million pension cap
- changes to taxation of transition to retirement income streams
- consequential transitional CGT relief, and
- a range of other measures.
Most of the reform measures are effective from 1 July 2017.
Changes taking effect from 1 July 2017 (for more information, please click on the items below to expand):
For more information on the documents we require to lodge the annual return, please see the page here. For a complete list of current developments in SMSF, please click on the link below: