superannuation funds, including self-managed funds, who adjust their asset
allocations to comply with the transfer balance cap and
transition-to-retirement income stream reforms that commenced on 1 July
2017 can claim the temporary transitional capital gains tax (CGT) relief. For
many, this relief expires 15 May 2018.
the Australian Taxation Office indicates that applying the CGT relief resets the cost base of an asset
to its market value (as determined under the Valuation guidelines for SMSFs on the date the
relief applies) and allows you to defer a capital gain that arises when
resetting the cost base for assets where you use the proportionate method.
encroaching May deadline means that any advisers who haven’t yet considered the issues
facing their clients should be doing so now.
Jemma Sanderson, CTA
Here we speak with self-professed 'superannuation
nerd' Jemma Sanderson CTA about the ‘CGT relief seminar’ session she will present at the WA Superannuation Intensive in March, and about the workshop on pensions
she’ll run later in the second day of the event.
and strategies are evolving as the year has progressed. The content I’ll be presenting will really
assist delegates to get an up-to-date lay of the land regarding the rules, as
well as provide them with the strategies to assist them in optimising their
I am running that opens this year’s Intensive looks in detail at the CGT relief
that is applicable for superannuation funds for the 2016/17 year. With the 30
June 2018 lodgement deadline for SMSFs, if a fund hasn’t claimed the CGT relief
by then, then it is no longer available.
various methods for calculation and eligibility, as well as the process to
undertake for the relief to be claimed, depending on the method nominated.”
session, Jemma will consider eligibility, three different calculation methodologies,
the operation of the deferral provisions, and the relevant disclosures for the
relief, all within a case study context.
pensions workshop, on the other hand, the strategies many of us have been
working with have seen a few curve-balls thrown at them by the new rules, so
the intention is to run through some scenarios to provide some further
strategies for practitioners to take back to their practices that will benefit
workshop, Jemma will outline the opportunities and issues to consider under the
new transfer balance cap regime using a number of case studies.
regular presenter on superannuation issues at Institute events. As an Institute
member for more than a decade, she has been involved in committees locally
and on a national level, as well as the WA State Council.
Cooper Partners Financial Services in Perth, Jemma heads up her firm's SMSF
specialist services, providing strategic advice on SMSFs and estate planning to
clients, as well as technical support to accounting, legal and financial
planning groups. She is also the author of the SMSF Guide, published by The Tax
Institute, and was recently named SMSF Adviser of the Year at the 2017
National Women in Finance awards.
of the Intensive program, Jemma said: “New rules always result in new
strategies, and the wealth of knowledge amongst the speakers means that there
will be great insight into these new rules and the areas to be careful with and
to consider strategies. Superannuation is an interesting space to work, in with the
changes coming through – one that is very complex, so getting it right for our
clients is so important. I’m passionate about SMSFs and making sure that SMSF
Trustees are optimising the use of their funds for their retirement and
find time for a life outside of tax, Jemma can be found “spending time with family,
primarily my 17-month-old son, relaxing at home (not sure there is such a thing
with a 17 month old), yoga, tennis and watching most sports.”
July 2017 .