Thank-you to everybody for the continuing positive feedback about the SMSF Podcast show. It’s great to have so many people sharing ideas for topics and speakers. We’ve got some great content lined up for the upcoming weekly shows.
In this week’s show, I am joined by SMSF industry ‘guru’, Peter Burgess who is the Head of Policy & Technical for AMP SMSF. We discuss many of the recent changes impacting contributions, in particular focusing on the:
- Reforms for excess concessional contributions from 1 July 2013; and
- the new Division 293 tax, which reduces the tax concession available for high income earners.
Both Peter and I share our thoughts on important strategy considerations as a result of these changes, along with some potential pitfalls to be aware of as well.
In this podcast we also discuss some of the practical considerations of the popular contribution reserving strategy (holding account). With the Commissioner having expressed his views on the application of this strategy through ATOID 2012/16, both Peter and I raised some of the important considerations for both concessional and non-concessional contributions using this unallocated contribution holding account process.
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