With the superannuation industry now surpassing $1.6 trillion and projected to grow to $7.6 trillion by 2033, it presents a range of competitive challenges for the industry but also for an aging population.
In this episode, Aaron Dunn is joined by Peter Burgess, Head of Technical and Policy for AMP SMSF to discuss many of the recent reforms impacting contributions, including changes to excess concessional contributions tax and the new Division 293 tax, which reduces the tax concession on concessional contributions for high income earners. Both Aaron and Peter also talk about the strategy considerations in light of these reforms, along with some practical tips and considerations with popular contribution strategies including the contribution reserving or holding account strategy per ATOID 2012/16.
In this second episode, Aaron Dunn discusses with Melanie Dunn, Actuarial Analyst and Team Leader from Bendzulla Actuarial, the Commissioner's release of draft determination, TD 2013/D7, which looks at the issue of segregation and current pension assets. In addition, Aaron and Melanie look at recent changes to the expanded definition of a superannuation income stream in section 295-385 of the ITAA 1997 and the continuation of a fund's tax exemption beyond the death of a member.