Few people understand how valuable the ‘anti-detriment’ benefit was, which means there is little focus on how the Budget will collect $350 million from you in only two years. Imagine if they announced new death duties.
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Superannuation’s anti-detriment provisions may be abolished as part of the government’s upcoming budget. It’s worth checking whether your own circumstances can take advantage of these rules.
How would you like the tax paid by your SMSF to be returned to your dependants upon your death? In some cases, an anti-detriment payment can make it possible.