Monthly Archives: March 2017

Impact of Super Changes – How are we addressing your advice needs?

Impact of Super Changes – How are we addressing your advice needs?

 

Over the last few months, many of our clients have been asking us what they need to do – if anything – following the raft of super changes that were made law in November that come into effect 1 July 2017.

Before I explain our approach for working with SMSF trustees impacted by the changes,

DIVERTING PERSONAL SERVICES INCOME TO SMSFS

Diverting personal services income to SMSFs

The ATO is currently reviewing arrangements where individuals (at, or approaching, retirement age) purport to divert their personal services income to an SMSF, so that the income is taxed concessionally (or exempt from tax) in the fund, rather than being subject to tax at the individual’s marginal tax rate. These arrangements normally involve the individual’s income being paid to another entity (e.g.,