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Technical Updates

Register for the Super Seminar before 30 June for your tax deduction

Remember to register before 30 June to ensure a tax deduction for this financial year. At this year’s seminar Brenda Hutchinson and Michelle Griffiths will: Give you the knowledge to take advantage of the CGT tax relief after 30 June. Provide the opportunities and strategies to create value opportunities for clients after 30 June. Guide you through all the elections and treatments required for 30 […]

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Superannuation Technical Update: CGT Relief-is it worth it? Apr 2017

For Superannuation Funds with members affected by the Transfer Balance Cap (TBC), the Government’s apology has arrived in the form of CGT Relief. But should all Funds look to claim CGT relief? CGT Relief- what is it? The Relief applies to Funds affected by the TBC and other pension changes – so in essence, funds with […]

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Budget Update: Where are we now…. Nov 2016

The 2016 Federal Budget, combined with the July election, has placed superannuation changes at the forefront. As we are now slowly seeing these changes, some of which have already been altered, tabled in Parliament, and with the majority of these reforms scheduled to take place effective 1 July 2017, it is important as advisers to […]

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Superannuation Technical Update: Tax Effective Transition to Retirement (Is this the end?) Sept 2016

The recent Federal Budget has turned superannuation income streams, in particular Transition to Retirement Income Streams (TRIS), on its head. While there is no proposed changes to the way superannuation income streams are taxed at the personal level, the Budget proposes that effective 1 July 2017 all TRIS pensions will cease to enjoy the associated […]

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Superannuation Technical Update: Federal Budget 2016

After a number of years of “quiet” budgets, superannuation was firmly in the spotlight for the Turnbull Government on Tuesday night. While an election looms large over these announcements, advisers should be aware of the following impacts: Superannuation “objectives” to be enshrined as law The purpose of the changes to the superannuation provisions is to […]

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Superannuation Technical Update: Review of Trust Distributions to SMSFs – April 2016

The ATO have announced they are currently reviewing self-managed super funds (SMSFs) that have received trust distributions where the income diverted into these SMSFs appears to be non-arm’s length and utilise tax concessions. The ATO’s focus is on complex arrangements between related entities in a private group that result in large capital gains or inflated […]

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Superannuation Technical Update: Property and the Next Generation – March 2016

Australia’s love affair with property can’t be denied. But holding property in Super can pose some difficulties when fund members approach retirement, and inevitably pass away.      Property and Pensions Clients should be aware of the liquidity issues that present themselves when their main SMSF asset is a property. They will need to ensure […]

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Technical Update: Estate Planning and Super, how to get it right! – November 2015

We are now in an age where the average superannuation balance continues to increase and represents an ever increasing proportion of the total benefits passing to beneficiaries on death. Superannuation assets do not form part of an Estate, so how can we work to ensure super is dealt with in a cohesive manner with the […]

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Technical Update: Contribution reserves – August 2015

On 31 July 2015, the ATO released changes to how we report concessional contributions which have not been allocated to a member’s account prior to year end. Most Trust Deeds allow for this “reserving” of contributions. As allowed under Division 7.2 of the SIS Regulations these contributions must be allocated to a members account within […]

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Technical Update: Pre 30 June Strategies for Superannuation – June 2015

With 30 June fast approaching, if you haven’t already, now is the time to engage with your clients to ensure they have met all necessary requirements for the financial year to keep their superannuation affairs working as hard as they possibly can for them. Maximise your contributions Concessional Aged 50 or over – $35,000 Less […]

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Technical Update: Collectable Rule Changes – March 2015

Are you and your clients ready for 1 July 2016? 1 July 2016 sees the expiration of transitional provisions for collectable and personal use assets. These provisions apply only to assets held by a Self Managed Superannuation Fund prior to 1 July 2011. What is a collectable? SIS Regulation 13.18AA(1) defines collectables and personal use […]

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