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FirstTech Podcast

Craig Day
Superannuation
Division 296 Tax
Aged Care Reform
Financial Advice
Division 296
Centrelink
Concessional Contributions
Taxation
Contributions
Self-Managed Super Funds
Australian Taxation Office
Payday Super
Stage 3 Tax Cuts
Contribution Splitting
Capital Gains Tax
Total Super Balance
Federal Budget
Powers Of Attorney
Retirement Planning
Salary Sacrifice

A podcast series for financial advisers looking at the latest technical issues and advice strategies that may impact investors and super fund members. Join Craig Day and members of the Colonial First State ‘FirstTech’ team as they discuss a broad range of advice issues, from superannuation and SMSFs, to social security rules and aged care. -Please note - these podcasts are designed for authorised ... more

PublishesDailyEpisodes137Founded7 years ago
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Artwork for FirstTech Podcast

Latest Episodes

Craig Day, William Truong, Richard Chen and Kim Guest discuss the latest technical news:

* Release of Treasury consultation paper on proposed tax changes to discretionary trusts

* ATO releases guidance on SMSF LRBA ban on residential property

*... more

Following the May 2026 Federal Budget announcement to introduce a 30% minimum tax on discretionary trusts from 1 July 2028, Treasury released a consultation paper in early July.

In this podcast, Craig Day and Linda Bruce discuss how the proposed refo... more

Craig Day and Kim Guest discuss the Centrelink and aged care implications of a person who is eligible for the extended land use test entering residential aged care.

Hosted on Acast. See acast.com/privacy for more information.

Craig Day and Tim Sanderson discuss an interesting and complex adviser question 'My client has a defined benefit pension - how do I know if they will be subject to Division 296 tax?'

Hosted on Acast. See acast.com/privacy for more information.

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Recent Guests

Tim Sanderson
Senior technical services manager
FirstTech team, Colonial First State
Episode: Federal Budget - proposed tax changes FAQ
Richard Chen
Technical services manager
FirstTech team
Episode: Leave payments on retirement: Lump sum vs taking leave
Kim Guest
Senior Technical Services Manager
Colonial First State
Episode: Payday Super - Impact on contribution strategies
Peter Burgess
CEO of the SMSF Association
SMSF Association
Episode: Division 296 - Where are we now?
Hayley Mitchell
Partner at Brisbane law firm Cooper Grace Ward, specializing in wills, estates, and superannuation
Cooper Grace Ward
Episode: Understanding Powers of Attorney
Tony Negline
Supernation and Financial Services Lead at the Chartered Accountants Australia, New Zealand
Chartered Accountants Australia, New Zealand
Episode: New Tax Determination clarifies deductibility of advice fees for individuals
Linda Bruce
Expert on financial planning and superannuation strategies.
Colonial First State
Episode: The impact of super rollovers on financial planning strategies

Host

Craig Day
Head of the FirstTech team; longtime host of the FirstTech Podcast and related series, providing expert commentary on policy changes and adviser guidance.

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Talking Points

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Question of the month: Defined benefit pensions and Division 296 tax
Q: So, how do you determine if a client with a defined benefit pension will pay Division 296 tax?
First, determine the TSB value of the pension on 30 June 2027 using the family law value unless an approved valuation methodology applies. If the TSB exceeds the $3 million threshold, calculate the earnings for the year using the defined formula, adjust for transitional rules and for any withdrawals or contributions, and then apply the 15% (and 10% for the portion over $10 million) tax where applicable.
Transfers from foreign retirement schemes that are not foreign super funds
Q: If the foreign retirement scheme isn't considered a foreign super fund, what does it mean for Australian income tax if the client transfers a lump sum to Australia?
It would generally be treated as a foreign trust, and the lump sum proceeds would be subject to trust income rules in Australia.
Transfers from foreign retirement schemes that are not foreign super funds
Q: So if you're not sure about whether your client's foreign retirement scheme is a foreign super fund under Australian law or not, what should you do?
Check the ATO legal database or apply for a private binding ruling to determine if the scheme qualifies as a foreign super fund.
Transfers from foreign retirement schemes that are not foreign super funds
Q: What if I miss the six month window, and I do the transfer sometime later?
Transfers outside of the six months period can have tax consequences in Australia, specifically taxing only the growth portion since becoming a tax resident.
Significant changes announced to Division 296 tax proposal
Q: Okay. So what were those?
The first change adds a $10 million threshold with a 25% tax rate, new indexing for the thresholds, and realized earnings will only include realized capital gains, not unrealized gains.

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Frequently Asked Questions About FirstTech Podcast

What is FirstTech Podcast about and what kind of topics does it cover?

A technical-focused show for financial advisers that covers complex rules around superannuation, tax reform, Centrelink considerations, and regulatory changes in Australia. Episodes frequently feature subject-matter experts from the FirstTech team who break down nuanced policy shifts, such as Division 296, Payday Super reforms, concessional and non-concessional contributions, and age pension interactions, with practical scenarios and planner-focused guidance. The format tends to blend detailed regulatory explanation with real-world adviser applications, aiming to equip listeners with actionable strategies, planning timelines, and warning flags for near-term transitions. A notable strength is its accessibility to authorised financial adviser... more

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Which podcasts are similar to FirstTech Podcast?

These podcasts share a similar audience with FirstTech Podcast:

1. BT Academy
2. Ensombl Advice Australia
3. The Money Puzzle
4. NAB Morning Call
5. The Money Café with Alan Kohler

How many episodes of FirstTech Podcast are there?

FirstTech Podcast launched 7 years ago and published 137 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on FirstTech Podcast?

Recent guests on FirstTech Podcast include:

1. Tim Sanderson
2. Richard Chen
3. Kim Guest
4. Peter Burgess
5. Hayley Mitchell
6. Tony Negline
7. Linda Bruce

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