Article written by Sarah Davie
Associate Director & Licensed SMSF Accountant
Steps to review your position under $3 million super tax
For most Australians, $3 million super tax will not require immediate action. However, individuals with larger super balances should review their position.
Step 1 – Check Your Total Super Balance
Your Total Super Balance includes all super interests across SMSFs, retail funds and industry funds.
Step 2 – Review Future Growth
Investment growth could push balances above the $3 million threshold over time.
Step 3 – Review Your Broader Wealth Structure
Investments may be structured across superannuation, trusts, companies or personal ownership.
Step 4 – Seek Professional Advice
$3 million super tax introduces complex tax considerations. Professional advice can help determine whether changes to your retirement strategy are appropriate.
Disclaimer: This article is general information only and does not take into account your personal circumstances. Always seek professional advice before making financial decisions.
Still got questions?
Our highly experienced and local SMSF team can walk you through the process and help you understand
whether a SMSF loan for property is a viable option for you.
Book a Free SMSF Strategy Session with Rogerson Kenny’s SMSF specialists today.
Or call us on (03) 9802 2533 to talk through your options.
*Disclaimer: This article is general information only and does not take into account your personal circumstances. Always seek professional advice before making financial decisions.*
Sarah Davie is an Associate Director and Licensed SMSF Accountant at Rogerson Kenny Business Accountants. She specialises in Self-Managed Super Funds and advises trustees on compliance, strategy and superannuation legislation.
