super budget measure schemes

Super budget measures one step closer

Proposed super measures to start on July 2022 Several superannuation proposals announced in this year’s Federal Budget have been introduced into Parliament in the Treasury Laws Amendment (Enhancing Superannuation Outcomes for Australians and Helping Australian Businesses Invest) Bill 2021. These measures – all due to start on 1 July 2022 – aim to: Improve flexibility …

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SuperStream and SMSF

SuperStream And SMSF Rollovers

SuperStream Standard Self-managed super funds (SMSFs) must be able to receive employer contributions and the associated data electronically using the SuperStream standard. From 1 October 2021, you can only rollover into or out of your SMSF using SuperStream. Also, certain release authorities may be processed in SuperStream SuperStream requires employers to pay superannuation and send …

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Superannuation Transfer Balance Cap

Transfer balance cap for pension phase accounts Starting 1 July 2017, there is a limit on how much of your super you can transfer from your accumulation super account to a tax-free “retirement phase” account to receive an account-based pension income. This is known as the super “transfer balance cap”. If you have more than …

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