We held a webinar update on Friday 3rd April 2020, where we provided an update on the latest COVID-19 guidance from the ATO impacting your superannuation fund.
As Australia moves into isolation and businesses into hibernation, the changes in law impacting the financial and superannuation landscape are coming through in abundance. With the speed at which they are being introduced, confusion reigns regarding the application and impact of these new provisions on your superannuation in the medium and long term.
The webinar in particular emphasised on:
- SMSFs providing rental relief to tenants, including where the tenant is a related party;
- In-House Assets and the 5% threshold at risk of breaching due to market conditions;
- Update on claiming for the release of benefits from superannuation under the new Compassionate Grounds (up to $20,000 across 2019/2020 and 2020/2021);
- Estate Planning and superannuation – ensuring that money passes to the intended beneficiary in the most tax effective and protected manner;
- Other considerations / opportunities with a fall in markets.
If you are in the Cooper Partners network and would like to watch this webinar, please click here to register.
This webinar is current as of 03 April 2020, however, please note that announcements and changes are being made by the Government and the ATO regularly, and we expect that the tax and business-related responses will continue to evolve. Please contact us to discuss.