As announced in the 2012 Federal Budget, as of 1 July 2012, the Government proposes that current ETP

tax concessions only apply to an ETP if the sum of the ETP and the individual’s other taxable income is less than $180,000.

This could result in a big tax increase for some retirees.

Should you wish to discuss your current arrangements, please contact us at The SMSF Accountant.