I guess there are several broader opportunities, including the stage three tax cuts from 1 July next year, on the basis that they still go ahead. Quite clearly, they're going to provide a range of opportunities. Those with those benefits will get the additional cash flow that could then go into super. Things like salary sacrifice strategies and so forth naturally will come into play there.

Meg Heffron, director, Heffron

I think trustees/advisers are still catching up with the fact that our current contribution rules, with contributions possible at much older ages with no work test, create enormous scope for re-contribution strategies for almost every older client. This doesn’t save the clients themselves any tax, but it could be transformational for their adult children.

Grant Abbott, LightYear Group chair, director, and founder

I think there are two levels of tax – one is for individuals who can still claim tax-deductible contributions, which are still reasonably generous at $27,000. And they can go above that which is also very tax effective, particularly if they invested in things like in stocks paying imputation credits.

If they invest in LRBA with an 80 per cent gearing, there'd be a lot of negative gearing inside the fund which is great to absorb any contributions tax.

Also, there’s the pension side, I would say at some point in time, the pension exemption may drop off. After the age of 60, it's tax-free inside the fund and I predict that in five or 10 years, there won't be any pension inside of the fund, it would just be one straight account. People also need to make sure they plan for when mum and dad pass away and there are the children left and looking at strategies around making sure to minimise any of the 15 per cent or 17 per cent death taxes because I do know that they're looking at potentially increasing that.

Tim Miller, head of education and technical, Smarter SMSF

The obvious considerations are whether to undertake re-contribution strategies for rebalancing purposes between spouses to potentially maximise ECPI if one member is over their transfer balance cap and the other is under.

Of course, this strategy should also factor in whether it's appropriate to utilise the bring forward limits in 2023–24 or wait for 2024–25 where it is likely we will see an increase in both the concessional and non-concessional cap due to indexation.

Trustees should also be considering their personal tax situation and determining whether they can benefit from the carry forward concessional rules if their total super balance was less than $500,000 at 30 June 2023 and their income warrants them carrying forward any unused concessional amount from the previous five years.

Michael Hallinan, special counsel, SUPERCentral

The adverse impact of Division 296 on their large assets. Making the most of the various contribution caps such as downsizer and the unused concessional contribution caps.