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Practitioners cautioned on liabilities with catch-up contributions

A major SMSF administrator has warned accountants on some of the liability traps associated with the $500,000 balance restriction for catch-up contributions, and is urging the government to align the threshold with the proposed $1.6 million cap.

Practitioners cautioned on liabilities with catch-up contributions
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SuperConcepts general manager of technical services and education Peter Burgess says SMSF practitioners will need to exercise caution with any clients planning to hold off on contributions and make catch-up contributions in future years.

Read the full story at SMSF Adviser.

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