The most significant changes to superannuation for the last 10 years in Australia are now law. The changes, announced in the May 2016 Budget, were modified in September 2016 and have finally been set out in legislation. We know how important it is to be on top of these laws and have been working with our trusted superannuation advisors over at Bluerock to make sure we can help you navigate the changes effectively.
So, how will the new superannuation legislation in Australia affect you?
Among other things, the changes will determine how you:
The team at BlueRock remains confident with the longer-term outlook for one of the best retirement schemes in the world, and while the changes applied are the most significant since 2007, the actual impact of these changes does not undermine the effectiveness of superannuation as a retirement planning and funding vehicle.
Make sure you get advice from experienced superannuation experts. It will save you time and money, and minimise your risk in the future!
The changes took effect on 1 July 2017, and so we recommend you get in touch with a superannuation professional, such as the expert advisory team at BlueRock, for advice on the best approach for your individual situation as soon as you can. We can then help you out with all the documents you need to maintain superannuation compliance and offer further advice when needed.
In light of the recent changes, BlueRock has bolstered their internal superannuation capabilities via the addition of George Karavias as Head of Superannuation. George joins BlueRock with a strong background in superannuation accounting and compliance, with experience at some of Melbourne’s leading advisory firms. He’s also a great guy! Working alongside the BlueRock Accounting and Private Wealth teams, George can assist you with the administration and compliance of your SMSF, while providing technical competency and strategic support from the wider BlueRock advisory group.
In addition to the changes made to superannuation this year, the landscape in which superannuation advice is provided has also significantly changed. From 1 July 2016, all advice regarding superannuation needs to be formulated and documented in a particular manner. This will impact on how BlueRock and CCASA deliver advice to you going forward.
Feel free to get in touch with the team at CCASA to find out what it’s all about.
And rest assured that we have updated the superannuation funds package in our online platform CCASA Docs to reflect the new superannuation legislation. By working with highly qualified lawyers and advisors, we make sure the compliance services you get from CCASA achieve the best results with the minimum risk.
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