There is a pressing need for self-managed super fund trustees to get professional advice in the wake of the 2015 Federal Budget, says Olivia Long, CEO of the SMSF administrators XpressSuper and SuperGuardian.

“The increases to the social security assets test will affect a sizeable number of SMSF trustees and members, and it is imperative those affected get professional advice,” she says.

Ms Long welcomes the Government commitment not to tinker with super, but notes there are an estimated 90,000 retirees who will lose their part pension.

“When you realise that an estimated 90,000 retirees will lose their part pension entirely, and nearly 250,000 will see their part pensions cut, then the enormity of the change for many SMSF trustees and members is evident.

“In essence, the assets-free threshold for homeowners rises to $250,000 for singles and $375,000 for couples from 2017, and the tapering rate rises from $150 to $300 per $1000 over the assets threshold.”

Long says that those trustees and members will need professional advice to understand how the changed will impact of them so they can put the right strategy in place.

“In particular, they should avoid any knee-jerk reactions such as moving their wealth from means-tested assets to non means-tested assets.

“The two key long-term goals of retirees of preserving capital and generating income should remain sacrosanct,” Long says. “These new policies will change how you achieve these two goals and that’s where you need professional advice.”

These changes to the social security assets test, estimated to collect $2.4 billion for the Government’s coffers over five years, were widely mooted before the budget.

About SuperGuardian, Xpress Super

Xpress Super is a unique low-cost offering which was launched by parent company SuperGuardian in 2013 to expand its service offering.  SuperGuardian  is a Chartered Accounting firm and specialist self-managed super fund (SMSF) Administrator, with more than 13 years of industry experience.

Xpress Super has service guarantees currently unmatched by any other low cost provider:

  • Same day fund establishment
  • Same day response to email queries
  • Daily online reporting
  • Timely annual accounts

For more information, please contact

Simrita Virk at Shed Media
M: 0434 531 172


May 13, 2015

Pension changes affect retirees, trustees

There is a pressing need for self-managed super fund trustees to get professional advice in the wake of the 2015 Federal Budget, says Olivia Long, CEO […]
May 13, 2015

How small businesses can benefit from 2015 budget

When interest rates were cut to record lows last week, Treasurer Joe Hockey said “There are many green shoots in the Australian economy, this interest rate […]
May 12, 2015

Paranoia can be valuable

Paranoia is not such a bad thing according to ANZ Chief Executive Mike Smith. Particularly as there is both a “threat and an opportunity” in the […]
May 11, 2015

Findex Appoints State Street Global Advisors for Investment Research and Asset Consulting

State Street Global Advisors (SSGA), the investment management arm of State Street Corporation (NYSE: STT), announced today that Findex Group, one of Australia’s largest financial services […]
May 5, 2015

Gold glitters as rates fall

The continuing fall in interest rates has become cialis professional a driving force behind rising gold demand, says, Jordan Eliseo, ABC Bullion Chief Economist. “Gold is […]