Monitoring your $1.6 million transfer balance cap
As of 1 July 2017, you may be aware of the restrictions that have been placed on the amount of super you can transfer into retirement phase within your self managed super fund. These new rules require you to remove any excess super benefits from your pension accounts to ensure they remain within the cap limits.
The SMSF Association’s Head of Education and Technical, Peter Hogan, will guide you through the details of the $1.6 million transfer balance cap and transfer balance account. These changes may have different effects on each member within your fund so it is important you understand how the rules relate to your specific circumstances. Ensure you understand the 1 July changes and have made the necessary adjustments, if required, so that your fund remains compliant.
This webinar will also focus on what happens to your transfer balance cap and transfer balance account when a member dies and the effects of the latest rules on defined benefit fund members.
Duration: 50 minutes
Presented by: Peter Hogan, Head of Education and Technical, SMSF Association
Peter Hogan is the SMSF Association's Head of Education and Technical. He is one of Australia’s foremost SMSF specialists, having worked in the sector over many years. A lawyer by training, he cut his teeth in the ATO before joining some of Australia’s largest financial institutions to work in key superannuation, investment and taxation roles. His enormous industry experience and knowledge, especially as they pertain to tax issues, means he is in constant demand on the SMSF speaking circuit. Away from the world of SMSFs, he is a keen weekend golfer when he is not providing a taxi service to junior sporting events. Peter is an SMSF Association Specialist Advisor and former Chair and National Board member of the Association.