With an election year coming up, the media is rife with speculation around proposed changes to tax law and superannuation. The Federal Government is planning to announce their policy in the May Budget. Certainly superannuation is in the sights of both parties, and as you would know Capital Gains Tax on property is part of the opposition’s policy.
As your trusted advisers, Alman Partner’s True Wealth continues to monitor and anticipate the effects of any changes in relation to our client’s strategies well in advance of their application.
Recently Steve Lowry had the opportunity to meet the Prime Minister as a guest of our Local Federal Member George Christensen. Mr Turnbull was extremely positive about our region’s future and the role that Australia will play in the Asia Pacific region into the future.
Frances Easton & Ellie Fordham attended the annual SMSF conference in Adelaide and had the good fortune of rubbing shoulders with the treasurer, Scott Morrison.
Scott Morrison delivered a strong message that any changes to superannuation would not be retrospective. He was adamant that his discussions where not a budget announcement and no details were provided due to them still working on the final touches.
Very little was given away on the possible changes to superannuation but the SMSF Association provided a clear message to Scott Morrison that they would like to see the purpose of superannuation enshrined in the future and taken out of the annual budget discussions.
Stephen Lowry CFP, DFP, FAIM, is a representative of Alman Partners Pty Ltd, Australian Financial Services Licence No: 222107.
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