Federal Budget 2016/17

News and articles relating to the 2016/17 Australian Federal Budget, particularly around superannuation and SMSFs, including pre-Budget submissions.

Transition to Retirement strategy still valid after 2016 Budget changes

A Transition to Retirement (TTR) strategy remains valid after the changes announced in the 2016 Budget, a 2016 SMSF Association Technical Conference has been told. The 2016 Budget includes a, as yet unlegislated, measure to remove the Exempt Current Pension Income (ECPI) tax concession from Transition to Retirement pensions from… Read More »Transition to Retirement strategy still valid after 2016 Budget changes

IPA urges Government to refrain from implementing Budget super changes

The Institute of Public Accountants (IPA) is urging the re-elected Coalition Government to “refrain” from some of the superannuation changes announced in the 2016 Budget. “Successive governments have encouraged citizens to provide for their own retirement but retrospective policy changes have made many people feel anxious,” said IPA chief executive… Read More »IPA urges Government to refrain from implementing Budget super changes

‘Transitional arrangements’ to apply to $500k lifetime non-concessional cap

“Transitional arrangements” will apply to SMSFs for the $500,000 lifetime non-concessional contributions cap, the Treasurer Scott Morrison has said in a letter to the SMSF Owners’ Alliance. The 2016 Budget included a $500,000 lifetime non-concessional contributions cap. This raised a number of concerns, including from the SMSF sector that it… Read More »‘Transitional arrangements’ to apply to $500k lifetime non-concessional cap