Navigating the New Superannuation Legislation

Gareth Turner, Director - Brisbane

How property valuation & a property professional can help you manage your investments

On February 28, 2023, the Australian government announced new legislation that would increase the concessional tax rate for superannuation balances exceeding $3 million. This means that a 30% concessional tax rate will apply to these balances from July 1, 2025.

If this change impacts you and you are looking to navigate the new Australian superannuation legislation and manage your investments, a property valuation can be a valuable tool.

Here are some ways that property valuation can help you manage your investments under the new superannuation legislation:

Determine the value of your SMSF property assets

A property valuation can provide you with an accurate assessment of the value of your investment property to determine if the value will exceed the $3 million cap. This can help you make informed decisions about whether to sell or keep the property or explore other investment opportunities and manage your superannuation balance. It will also provide an updated rental assessment so you are fully maximising the returns from your investment.

Identify investment opportunities

A property valuation can help you identify further investment opportunities with the asset or other assets beyond the property market. There could be further potential in the property to maximise its value and return. A professional property valuer can highlight these through a consultation.

Plan for retirement

A property valuation can help you plan for retirement by assessing your net worth, determining your potential equity release, assisting in downsizing decisions, estate planning, and tax planning. It's important to work with a financial advisor and a property professional to make the most of your property assets.

Avoid the $3 million cap

The new superannuation legislation reduces tax breaks on balances over $3 million. Knowing your SMSF value is important to assess whether this threshold will potentially affect you and give you time to speak to your SMSF advisor on the best strategies for you moving forward.

Working with a property valuer and financial advisor will provide you with the information and tailored advice you need to achieve a diversified investment strategy to suit your circumstances and investment goals. For more information on the changes – click here  Superannuation tax breaks | Treasury Ministers

Nathan King
National Director – Advisory, State Director – WA Operations
— Perth Property Valuers
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