Using Div 152 to overcome the new Total Super Balance restrictions
Div 152 concessions will become an important tool for clients to legitimately exceed the $1.6m Total Super Balance limitation.
Stream this recording multiple times at your convenience.
- $180.00 incl. GST
- PD hours: 1
The CGT Cap allows an extra $1.45m contribution to super in 2017/18.
The CGT small business 15 Year Exemption and the Retirement Exemption are already important tools for clients exiting their business.
That importance will increase from 1 July 2017 as they will enable small business owners to increase their Total Super Balance above the $1.6m restriction to be imposed under the new super regime. This is because contributions under the CGT Cap regime are an exception to the Total Super Balance restrictions on future contributions.
This webinar will take a practical look at the ability of client structures to use the Sub-dIv 152-B & Sub-div 152-D concessions including:
• Specific issues relevant to applying either concession;
• Mechanisms to access the concessions when it appears they may not be available;
• How and why using the concessions provides opportunities under the new regime;
• Ensuring ITR and CGT Schedule requirements are satisfied;
• How to make CGT cap elections, contributions and completing the ATO forms required to ensure super fund compliance.
Importantly, attendees will be expected to have a solid working knowledge of the basic conditions in Sub-div 152-A that are required to be satisfied in order to access the CGT Small Business Concessions.
Our previous webinar on Capital Gains Tax Small Business Relief (1 of 2) explains these conditions in detail.
Webinar Learning Outcomes:
Attendees will obtain an understanding of the structuring possibilities in using the 15 Year Exemption and the Retirement Exemption to permissibly maximize total super balances above the $1.6m restriction.
Instructions and explanations will also be provided on how to complete the client’s ITR, the CGT Schedule and other ATO forms to ensure compliance by the client and the super fund with various ATO requirements for tax law and super law purposes.
Accountants, planners and lawyers from intermediate to senior levels.
Clifford Hughes is an IFX Legal Independent Adviser and Principal at Clifford Hughes & Associates. He is a member of the CCH Q&A Advisory Panel and consults to legal, accounting and planning practices around Australia on revenue, structuring and succession issues for their SME and high wealth clients.
You will be provided with:
• PowerPoint presentation slide deck
• Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter
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