Written by Tracey Scotchbrook, Head of Policy & Advocacy, SMSF Association
As expected, the 2023-2024 Federal Budget has placed a strong emphasis on the cost of living and establishing a stronger, secure economy.
From an SMSF perspective, we were pleased to see there were no unexpected changes likely to significantly impact the sector or superannuation more broadly. As expected, we saw continued provisions for the Government’s proposed $3 million tax threshold for superannuation balances.
The following is a brief summary of the key changes relevant to the SMSF sector.
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