The increase of the transfer balance cap from $1.9 million to $2 million is not as simple to understand as it seems. In this SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn discuss the implications of the TBC rise implemented at the start of the new financial year with industry stalwart David Busoli.

While this shift appears straightforward, it brings complexities, particularly for existing pensioners, due to the intricacies of proportional indexation. Busoli explains how proportional indexation is a critical concept in understanding how the TBC affects individuals and how, for people just starting their pension phase, the indexation process presents several challenges.

Listen as they discuss:

• The necessity for accurate data to ensure proper management of transfer balance accounts.
• Broader implications of the TBC changes, including the impact on non-concessional contributions.
• The ongoing challenges within the SMSF sector, particularly in managing the intricacies of the transfer balance cap and ensuring accurate reporting.
• Division 7A and its implications for limited recourse borrowing arrangements within SMSFs.

It’s the start of a new financial year, but there are still many uncertainties in the SMSF world. In the latest episode of the SMSF Adviser Show, hosts Keith Ford and Aaron Dunn discuss the implications of the upcoming Division 296 legislation, which is set to impact individuals with superannuation balances over $3 million.

As the new financial year kicks off, there is a raft of other topics that SMSF professionals need to pay attention to and plan for the year ahead, and Aaron breaks down all of the areas that deserve a closer look.

Listen as they discuss:

• How a lack of certainty is impacting the sector.
• The continued pushback from a growing cohort of industry bodies.
• The rise in SG and its effect on contribution strategies.
• Timely reviews needed now of investment strategies and estate planning.

With just two weeks remaining until the financial year wraps up, getting an SMSF ready for tax time involves ensuring there is a smooth audit process.

In this episode of the SMSF Adviser podcast, hosts Keith Ford and Aaron Dunn are joined by well-known industry auditor Deanne Firth, director of Tactical Super.

Firth offers some valuable insights and timely reminders for SMSF trustees and auditors to prioritise compliance and leverage available resources to streamline their processes.

Listen as they discuss:

• Obtaining the necessary evidence for valuations, especially concerning private and unlisted companies.
• The timing of audits and the importance of proactive engagement with clients.
• The challenges with valuing unlisted assets, particularly private companies with unique business models.
• The complexities of SMSFs investing in start-up ventures.
• Loans within SMSFs.
• Technology and AI in the SMSF sector.