As of 1 July 2017, there are new provisions to the superannuation contribution limits and pension account balance limits. If you breach any of these limitations, it could impact the taxable position of your super fund and its relevant members.
The trustees and members should discuss their position with a taxation specialist to make sure they avoid any breach of provisions. The trust deed of your fund should also be checked for possible amendments to make sure that it has a clause, which provides for a limitation on benefit payments in accordance with superannuation regulations.
What can you do?
If you would like to know more about superannuation regulations, you can click here to know more about Chan & Naylor services. You can leave your details here and we can schedule you for a free consultation. We’ll contact you to explain more.
Whether you are a beginner, seasoned investor or business owner, we can give you guidance to maximise the financial areas of your life. We can give you an integrated and tailored solution of your superannuation, taxation, property investment, asset protection, estate planning and more.
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