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Protecting your nest egg- The upcoming changes to superannuation

A range of significant super reforms announced in the last Federal Budget which will become effective as of 1st July, 2017. As superannuation is an integral part of your future, we would like to ensure that you are aware of the changes and provided with the correct information to respond accordingly.

The changes cover a broad range of aspects within superannuation, so no matter what your phase of life they can affect you. The four key areas are:

  • Concessional superannuation contributions (example- pre-tax contributions)

  • Non-concessional contributions (after-tax contributions)

  • Superannuation benefits (tax-free and taxable benefits)

  • Transition to retirement pensions (income available for those working part-time who have reached the superannuation preservation age)

Previously accountants have been exempt of the requirement to hold an AFS licence when advising on superannuation contributions and the establishment of a SMSF; however as of July 1, clients requiring advice these matters will need to see a professional with an Australian Financial Services (AFS) licence. Fortunately for our clients, our financial planning arm CABEL Financial are able to assist.

CABEL Financial are licenced financial planners, that are located within our office. The advantage for CABEL Partners’ clients is that your accountant will be available to work with the CABEL Financial team and ensure that your financial matters are handled with care.

The team at CABEL Financial have identified opportunities for our clients to take advantage of both the current legislation (pre-July 1) and the changes (post July 1). You can read about these, in the fact sheet attached. This fact sheet provides a detailed overview of the four key areas of change.

If you would like to discuss these changes further, contact us for a no obligation consultation. If you have another financial planner, please speak to them and us, as we would like to ensure you are looked after.

With a matter as critical as superannuation, it is a valuable investment of your time.

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