1. SMSF Strategies with Grant Abbott

2. Ten years ago Peter Costello introduced a revolution in superannuation – one that created confidence in superannuation and SMSFs. In the period of 18 months more than $100Bn had been contributed into super and the Golden Decade began. Ten years later Scott Morrison destroyed that confidence with retrospectivity that will confuse and disrupt superannuation and in particular SMSFs from today on. Everything has changed – NOW!

3. Who is the Super Treasurer?

4. The Turnbull Government Budget
The Good – A Budget filled with seriously disruptive changes in terms of contributions, investments, estate planning, family law and of course SMSFs
The Bad – Retrospective changes have never served anyone and always create backlash – think of the 1998 Budget with Unit Trusts and SMSFs and the 2016 Federal Election
The Ugly – Paralysis and Confusion reigns as software needs to be upgraded, plans come crashing to a halt, BDBNs change so do reversionary pensions and the list goes on
The Dumb – The changes only cause anger and with an election that disenfranchises the Governments greatest supporters

5. The Issues Estate Planning Reserves Complying Pensions NCCs
Tax Free and Taxable Components
TRIS post 30 June 2017
Family Law
Health Care Cards - Grandfathering

6. Let’s go to the detail
Budget Paper No 2 holds the big detail - The Real Detail
Contributions for under 75s – no more work test for self or spouse contributions
Personal deductible contributions are not mutually exclusive to employer contributions so can have pre-tax contributions from multiple sources.
However excess concessional contributions come into play with a reduction in the cap to $25,000 – seriously low but rolling 5 year rule for under $500K a good thing
And remember excess concessional are non-concessional so the idea of making excess concessional contributions needs to be watched

7. The Newest New Contributions Rules
Three layers of contributions to consider when looking at concessional or what we know as deductible contributions
Layer One: When the contributions hit the fund, they are concessional and taxable contributions
Layer Two: Excess concessional contributions
Layer Three: Excess non-concessional contributions – penalty taxes or the withdrawal method
Now the lifetime cap – what and how is that going to be administered with a backdate to 1 July 2007

8. Grant’s Top Five NCC Burners
Contribute for under 75s
Related Party Loans
Family Super – use to the full extent for a couple
Sale of a Business – particularly the 15 year rule
QROPs – for UK Retirees and Permanent Residents

9. Pension Disruption
Transition to Retirement Income Streams designed to provide access to superannuation whilst working – all tax advantages are now withdrawn
Exemption Pension Account – at 1 July 2017 only $1.6M can be localised in a pension account on that day – pooled v segregration now all important
Pensions may continue but tax to change – the question is why pay out rather than accumulate if there are no tax advantages??
What is going to happen to all those plus size pension accounts over the next 15 months? Seriously retrospective, unfair and arbitrary

10. Segregated Accumulation Investments alongside Pensions
Related Party geared Income ETF Holding Trust
Gold, silver and other precious metals
In house assets – motorbikes (lease)
Off the plan
Start up and pre-IPO
Inflation linked bonds
Capital losses
Shares with franking credits
Insurance bonds
Call options
Property with loan so no real income

11. LRBA – Do’s and Donts Standard commercial loans okay
Related party lending – what are the safe and non-safe harbour rules
How to build quickly and efficiently within the NowInfinity platform
Advanced LRBA strategies

12. Estate Planning
The SMSF Will – collation of BDBN, auto-reversionary and allocation of reserves and specific assets
What does a SMSF Will look like in practice and what can be done
When to use just BDBN and/or auto-reversionary particularly after the Budget
And reserves?

13. And finally …. This is a great and important time to strategise
Get on next months webinars – particularly presentations and case study and automation of SMSF corporate transactions
Look into using NowInfinity platform and definitely Corporate Messenger