Wave 1 of the changes hit on 1 July and our clients have been well prepared. Be prepared for the next two waves!

Wave 1 – Lead up 30 June 2017

On 1 July 2017 the new super rules come into existence. Many of our clients are impacted by the changes and we have spent a lot of time in the lead up to 30 June researching and analysing clients’ circumstances to ensure if things needed to be done, they were. 

We have made the last minimum pension payments for clients and the last contributions under the old rules. Where appropriate, minutes have been prepared for the new transfer balance cap. For some clients, new portfolios have been constructed outside of super.

Wave 2 – Post 1 July 2017 

From 1 July 2017 everything changes! So it’s incredibly important that you speak to us before you take any actions on your super. 

In the new year we will once again be analysing and researching our clients’ positions to optimise the following:

  • Salary sacrifice arrangements (ensure you are aware the caps have come down)
  • Transition to retirement pensions may or may no longer be in your best interests. 
  • Estate planning must now be revised in relation to reversionary pensions and your nominated beneficiaries. 

Wave 3 – Preparation of SMSF accounts for 2016/17

When it comes time to prepare the financial accounts for our cilents’ SMSFs, in late 2017 we will be focused on the capital gains tax implications. Where appropriate, we will work with our clients’ accountants to ensure capital gains tax cost base resetting is chosen where available. 

If you have a question, ask us!

In the new financial year, our immediate focus at Quantum Financial will shift to producing our Investing Insights report for our wonderful clients. We will spend a large amount of time reviewing our current investing thesis and coming up with the best strategies and investment decisions to optimise your family’s wealth. We will then share these thoughts with you.

However, if at any time you have any fear, worries or concerns about the changes to super, feel free to email or phone our office for a chat!

Claire Mackay

About Claire Mackay

I am a financial planner, SMSF expert and company director. I thrive on providing independent, expert financial advice to my wonderful clients. I was recognised as Financial Planner of the Year 2015 and Investment Adviser of the Year 2014. My website is here

Leave a Reply