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Businessman Holding Nest Full Of Golden EggsWith the biggest changes to the superannuation industry in a decade only 4 months away, Hanrick Curran continues to remain abreast of the practical implications of the changes. Hanrick Curran Partner, Clive Todd and Associate, Frances Hill have recently returned from two and a half days at the industry leading SMSF Association National Conference in Melbourne. Timing of the event was opportune for delegates following the latest superannuation changes passed as legislation prior to Christmas.

The event hosted by the SMSF Association provided delegates from leading professional service firms across the country access to  conference guest speakers such as Hon. Kelly O’Dwyer MP – Minister for Revenue and Financial Services, Chris Jordan (Commissioner of Taxation – ATO), Peter Kell (Deputy Chairman – ASIC) in addition to other leaders of Government and  industry.  The insights shared will prove invaluable as we guide superannuation trustees and members to adapt to the new superannuation reforms.

The conference attendance follows our commitment to keep you informed about the changes and opportunities available to our clients.  As highlighted in our superannuation insight presentation, our Window of Opportunity article late last year and summary Snapshot of Superannuation Changes, now is the time to consider the strategies available to you.

In light of the reduction in concessional contributions to $25,000, the Superannuation Reforms will have an effect on most of us however there are a number superannuation members who will be impacted on multiple fronts and have a window of opportunity to explore strategies to optimise their retirement savings and income streams.  Any members of a SMSF, Industry or Retail Fund who identifies with one or more of the following positions, will have strategies open to them to improve the impact of superannuation reforms on their wealth and income streams.  These include members who:

  • have an existing Transition to Retirement Income Stream;
  • are nearing retirement age and have financial capacity to consider making additional superannuation contributions;
  • have a total balance of more than $1.6mil in  superannuation ; or
  • are nearing retirement and have an accumulation account balance of more than $1.4mil

 

With Superannuation specialists and licensed Wealth Strategists, Hanrick Curran are well place to assist all clients to understand how these changes impact your retirement plans and provide advice on strategies suitable to your personal goals and objectives. Please speak with your usual Hanrick Curran adviser on 07 3218 3900 to arrange a time to discuss the options available to you to ensure you can take action prior to 30 June 2017, ready for when the superannuation reforms are in effect.

 

Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.