Superannuation

The ATO has released a range of the materials to assist financial planners and clients with the superannuation changes commencing 1 July 2017.

• Two videos with ATO Superannuation Deputy Commissioner James O’Halloran discussing the key things individuals and SMSFs need to be aware of before 1 July.
• Information sheets:
  • Key things advisers should consider when advising clients about the super changes
  • FAQ for high income individuals
  • FAQ for retirees
  • FAQ for SMSF trustees
• Guidance notes to provide information and examples of how the super changes may operate in practice.
• Law companion guidelines (LCGs) which describe the ATO’s view on how the new laws will apply.
• Practical compliance guidelines that describe how the ATO will apply its compliance resources:
  • PCG 2017/3: Supporting the implementation of the changes to the taxation of transition to retirement income streams
  • PCG 2017/5: Commutation request made before 1 July to avoid exceeding the $1.6 million transfer balance
  • PCG 2017/6: Commutation of a death benefit income stream before 1 July 2017.

For access to all of ATO’s resources, visit ato.gov.au/superchanges.