Federal Budget report 2021-22 | Accurium

Government confirms role of actuarial certificates
On Tuesday 11 May 2021 the Treasurer, Josh Frydenberg, released the Government's 2021-22 Budget. The Budget features a number of measures that will impact pre and post retirees, including aged care clients and these measures are the focus of this analysis.
 
The Accurium tech team have reviewed the Budget and prepared a summary of the key measures to be considered when working with clients.
 
Key measures impacting SMSFs from 1 July 2021:   
  • Repealing the work test and extending the bring forward provisions
  • 2 year amnesty for commuting legacy pensions
  • Relaxing the residency requirements for SMSFs and SAFs
  • Downsizer contributions extended to those who are age 60 and over
  • No change to legislated Super Guarantee increase and removal of the $450 per month threshold for eligibility




Disclaimer

This information is provided by Accurium Pty Limited ABN 13 009 492 219 (Accurium). It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Accurium is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.