Meeting

Jun 2017 2 Minutes

Walker Wayland’s superannuation information night

Last month Walker Wayland hosted a client information seminar which ran through the opportunities created and the key issues that will need to be addressed before the super reforms start taking effect.

The session covered maximising concessionally taxed super contributions, including Superannuation Guarantee contributions, other employer contributions (such as salary sacrifice), personal contributions claimed as a tax deduction and certain other amounts.

Also covered was maximising non-concessional super contributions. These include personal contributions made to super from your after-tax pay or savings and super contributions made to or by your spouse.

Discussions also included reforms that take effect on 1 July 2017 including Transition to Retirement Pensions and dealing with the $1.6M pension caps.

The session then looked at some of the opportunities available when the reforms take effect on 1 July 2017. These include personal deductible super contributions, spouse contributions and catch-up concessional contributions.

After the opportunities were discussed, Iggy went into detail for some key advice issues to be considered when the reforms take effect on 1 July 2017. The first issue to consider is that an additional 15% tax on concessional contributions will be payable if you earn $250,000 pa or more. Another issue discussed was insurances and the effective tax rate payable when funding cover within and outside super. Finally, there were some key estate planning issues that people need to consider.

Should you wish to discuss the presentation or think that there is something relevant to you then please contact Rebecca or Iggy to discuss your specific needs and circumstances.

Rebecca and Iggy can be contacted at the office on 08 9364 9988 or via email iggy@ww-wa.com.au or rebecca@ww-wa.com.au.