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Recorded Webinars

Recorded Webinar: The Government's Super Tax Proposals: What it Means for Your Clients Now

The Government’s decision to impose a 15% tax on earning of super funds with total super balances in excess of $3 million is the most significant change to superannuation taxation for some time. Michelle Griffiths is a super specialist with a practical understanding of the interp
PRESENTED BY Michelle Griffiths Partner - TAG Financial Services , Melbourne

Date/Time

About the Webinar

The Government’s decision to impose a 15% tax on earning of super funds with total super balances in excess of $3 million is the most significant change to superannuation taxation for some time.

Michelle Griffiths is a super specialist with a practical understanding of the interplay between retirement planning and the tax regime affecting super funds. In this webinar she will explain the new regime and explore its implications for affected fund members.

  • Key elements of the new tax – seems simple enough but is it:
    • Tax on total super balance
    • Tax on proportion of earnings above $3 million
    • Date of first application
  • Key differences between the existing 15% tax on accumulation funds and the new tax
    • No discount for capital gains
    • Taxes realised and unrealised capital gains
    • Applies to funds in pension phase as well as accumulation phase
    • Treatment of capital losses
  • The $3 million threshold –
    • An aggregation of balances in all funds
    • How and when it is calculated
    • How the proportion of “earnings” over $3 million will be calculated
    • No indexation
  • How will the tax be paid:
    • Assessment to the individual
    • Payment by the fund
    • Is it better for the fund or the individual to pay?
  • How will the measures apply to defined benefit funds? What we know and what we don’t!
  • Implications for retirement planning:
    • How to determine when your clients are likely to be affected
    • A comparative analysis of retirement income strategies on balances above $3 million including worked examples:
      • Trust vs super fund
      • Company vs super fund (incl company owned by trust)
    • Getting the cash out of the fund – and what if you can’t?
    • Some thoughts on investment strategies:
      • Avoiding high growth investments
      • Steps you can take to stay under the threshold
      • Fund liquidity and illiquid assets
      • The importance of franked dividends
    • How the measures affect contributions:
      • Reducing non-concessional contributions
      • Spouse contributions
      • Contributions for children
      • Recontribution strategies
      • Worked examples

Presented By

Michelle Griffiths
Partner, TAG Financial Services Melbourne, Vic.

Michelle is a founding Director of TAG Financial Services Pty Ltd, a Chartered Accountant and qualified investment adviser. Michelle is widely known for her practical approach to some very technical topics. She is a recognised superannuation, investment and taxation specialist and consults on all matters relevant to wealth management.

Michelle is passionate about sharing her knowledge. Her case study based presentation style is a welcome change of pace, always providing some practical ideas and discussion points for you to use with your clients.

Who Should Attend?

This webinar is suitable accountants who advise in superannuation matters and lawyers who advise in estate planning and/or succession law matters – Australia wide. This is an update webinar on recent developments in this area.

CPD Information

Accountants can claim up to 1 CPD/Training hour. Lawyers can claim up to 1 CPD unit/point – substantive law . This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion. WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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