MLC TechKnow
In this month's edition:
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status of important proposals
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untangling the bring-forward rules, and
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notice of intent and failing the work test.
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Super strategies selector e-book |
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Use our strategy selector with clients to help them identify and understand smart ways they can use superannuation to build and protect their wealth, and maximise their retirement income.
Super strategies selector e-book
Note: a white-labelled version is available in the superannuation page in the Technical section of MLC AdviserOnline. | | |
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Business Insurance Guide 2022/23 |
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Our adviser guide outlines the key risks that business principals face and the role that insurance can play in:
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protecting personal and business assets
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offsetting a reduction in business revenue, and
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funding an orderly transfer of business ownership.
Business Insurance Guide 2022/23 | | |
Untangling the bring-forward rules
When is a client eligible to bring forward non-concessional super contributions and how much can they contribute?
Untangling the bring-forward rules | |
Farm Management Deposits - what you need to know
How can Farm Management Deposits help farmers deal with uneven income?
Farm management deposits
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Impact of compensation on super caps |
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Compensation for inappropriate advice or fees for no advice may count towards the super contribution caps.
Read more | | |
Reducing downsizer contribution age to 55
Legislation has been introduced to reduce the downsizer contribution age from 60 to 55.
Read more | |
Removal of self-education expense threshold
Legislation has been introduced to remove the $250 self-education expense threshold.
Read more | | | |
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Claiming a tax deduction but then failing the work test |
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My client (age 68) made a personal super contribution of $200,000 (in 2022/23 FY) and claimed a tax deduction for $27,500. They then immediately commenced an account based pension to take advantage of the tax free investment returns. They are not eligible for the work test exemption but intend to satisfy the work test later in the financial year through casual employment. What happens if they fail to satisfy the work test?
Find out answer | | |
