The government s proposed tax on superannuation balances exceeding $3 million could adversely impact up to 50,000 self-managed super fund members (SMSF), including posing liquidity challenges.
Australians who carefully saved up through self-managed super funds are set to be walloped with a brutal new tax that could leave some struggling to pay their bills.
The trend downward of SMSF wind-ups over the past few quarters is one to watch according to a leading auditor. Shelley Banton, head of education at ASF Audits, said there seems to be no anecdotal evid