The changes to superannuation announced in the 2016 Federal Budget have been passed by Parliament. Amongst the changes was a raft of legislation which may have been overlooked given a few of the substantial changes taking the headlines but these measures are just as important in your planning for 1 July 2017.

The main issues that you need to consider because of the changes include:

Your superannuation trust deed along with the superannuation laws form the governing rules that self managed super funds (SMSFs) needs to operate by. The introduction of the $1.6 million transfer balance cap (TBC) and new transition to retirement income stream (TRIS) rules are a ‘game changer’ for SMSFs when discussing benefit payments and estate planning.

1. Failing to engage the right advice ‘Team’.
   The two biggest issues we are seeing in this regard are:

   • Accepting specialised advice about Superannuation (your retirement nest egg) from a Property Spruiker or ‘garden variety’ Mortgage Broker. Regardless of whether they then put you in touch with their ‘tame’ Financial Planner you need to be smart enough to realise