There will be no shortage of issues for self-managed super funds to grapple with in 2023. The debate around capping excessively large superannuation balances – and any policy initiative on this front by the Labor government – is likely to head the list.

Labor recently floated the idea of capping large superannuation balances, with $5 million widely suggested as a cut-off point. At this number, it has been estimated about 16,500 individuals would be affected, most of whom would be in SMSFs.