FirstTech Podcast

Craig Day and Kim Guest discuss this month's question of the month, which discusses how the Centrelink granny flat rules apply when a client wants to create multiple granny flat arrangements.

Craig Day, Tim Sanderson, Linda Bruce and Kim Guest discuss the latest technical news:Upcoming Federal BudgetProposed $1,000 tax deduction for work related expensesHome based businesses and small business CGT concessionsUpcoming changes to Total Super Balance and defined benefit pensionsMinor change to who can be a trustee of a SMSFAnnounced changes to Support at Home fees

From 1 July this year, the new Payday Super reforms come into effect which generally require employers to make SG contributions at the same time as they pay salary and wages.This change could have implications for advisers and their clients where it results in an increase in concessional contributions, as it could cause them to inadvertently exceed their concessional contribution cap in future years.

As we approach the end of the financial year, it's a great time to review year-end super strategies and get ready for the new financial year.

Craig Day, Tim Sanderson, Linda Bruce and Richard Chen discuss the latest news:Upcoming Federal BudgetDivision 296 tax - latest developmentsPersonal Services Income and trusts - ATO updatePayday Super - contribution cap implications

Craig Day and Tim Sanderson discuss the recently introduced Division 296 tax bill which proposes to levy additional taxes on the superannuation earnings of members with total super balances in excess of $3m.While some aspects of the new Bill are similar to the original proposals, the proposed new rules also include some significant changes, which will have important implications for clients and their advisers.

Craig Day, Tim Sanderson, Alex Denham and Kim Guest discuss the latest technical news:Indexation of the transfer balance cap from 1 July 2026 - things to watch out forIndexation of the contribution caps - potential strategy opportunitiesBrief discussion on Division 296 bill currently before ParliamentIncrease to Centrelink deeming rates on 20 March Recent report on Support at Home waiting times

Craig Day and Kim Guest answer our question of the month, which discusses situations where a client receives an excess non-concessional contribution determination and are trying to figure out what went wrong. The answer may surprise you.