SMSF Alert: June 2015

Key Points Budget tightens age pension for wealthy Think twice before piling lump sum into primary residence Tax Office hot on holiday rentals Don't miss the contributions deadline  The Budget – Less offered to those with more The headline changes from the Federal budget were to the age pension assets test thresholds and the rate at which the age pension is reduced when the thresholds are reached. From 2017, homeowners who are single and have more than $250,000 in assessable assets will see the pension decrease by $3 for every additional $1,000 over that limit, up from $1.50 per...

The headline changes from the Federal budget were to the age pension assets test thresholds and the rate at which the age pension is reduced when the thresholds are reached.

From 2017, homeowners who are single and have more than $250,000 in assessable assets will see the pension decrease by $3 for every additional $1,000 over that limit, up from $1.50 per $1,000. For homeowner couples the threshold will be $375,000.

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