SUPERCentral has produced a comprehensive Pre-30 June ‘To-Do’ Checklist for advisers and accountants
Estate planning strategies via super are also affected by these most significant changes to superannuation in the last 10 years
Online legal documents provider, SUPERCentral, has produced a list of issues to consider and potentially action for superannuation clients by their accountants and advisers. The New Super Laws Checklist was produced in response to the ‘Fair and Sustainable Superannuation’ amendments that constitute the most significant change to superannuation in the last 10 years.
“We produced the New Super Laws Checklist to provide a support tool to SMSF and superannuation specialists and their clients that assists them to more easily review and address the issues to existing strategies prior to the 30 June deadline. Understanding the changes is as much about understanding their effect as it is about working through the detailed wording. These changes will have a major impact on the way clients manage their superannuation in the future.
“We sought to highlight steps that could be taken in the planning process and issues which may need to be considered,” said Michael Hallinan, Special Counsel Superannuation, SUPERCentral.
The Checklist has been segmented into four different age brackets to enable easy access the information relevant to any particular client’s situation. The age brackets are:
- 18 years – Preservation Age
- Preservation Age – 65 years
- 65 years – 74 years
- 75+ years
For example, individuals who are still in accumulation phase have different requirements to those who are either transitioning to retirement or who are already in retirement.
The New Super Laws Checklist is a living document and will be updated as new information comes to light. Its shelf life extends well beyond the amendments’ implementation deadline as it will have the capacity to look at and deliver strategies for ongoing planning post 1 July 2017.
“It also directs focus on how the new laws impact estate planning, given the Federal Government’s stated desire to remove superannuation as an estate planning vehicle and what needs to be considered there,” said Mr Hallinan.
The cost of this invaluable SMSF support tool is $440.
