As most of you will know, on July 1 this year there were a number of changes that took effect to Australian Superannuation rules.
Superannuation legislation is always going to be subject to change. The reality is, is that super rules are far easier to change than company laws. This is because when you change a company law it affects all companies. From the three-person corner store to the BHP's.
Superannuation laws on the other hand really just affect Mums and Dads making them easier and nimbler to pass.
So it's our job to keep you ahead of the game and ensure that we are always optimising your business's financial opportunities in the face of these constant changes.
A couple of the main July 2017 superannuation changes that have now taken effect will definitely warrant a review of your tax effective strategies.
Annual concessional (before-tax) contributions cap has now been reduced to $25,000 and annual non-concessional (after-tax) contributions cap reduced to $100,000.
With the company tax rate transitioning from 30% to 25% over the next two years this could present opportunities.
There are simple and effective strategies that our team can help you out with to ensure that your wealth creation and retirement planning is considered and effective.
For more information about tax effective strategies for your business, call Anthony, Chris or Doug on 6566 2200.