In this week’s episode of the SMSF Academy podcast (episode 23), Aaron explores how the introduction of the total superannuation balance definition impacts a range of measures including:
- the ability to make non-concessional contributions,
- eligibility for determining a fund’s tax exemption using the segregated method; and
- the application of the catch up concessional contribution measures starting on 1 July 2018.
This new total superannuation balance (TSB) definition impacts a range of strategies employed across SMSFs, and in this podcast Aaron discusses how to navigate around key opportunities such as with re-contributions, the use of contribution reserving and the unused catch up concessional contribution rules.
Furthermore, in this podcast, he discusses the ATO’s approach to the use of reserves as a tool to try and circumvent a member’s transfer balance cap and total superannuation balance.