Topping up super with up to $1 million before June 30, is by far occupying the most time for advisers in the Axa network, according to Axa national manager technical, research, advice and paraplanning Robert Thomas.
However, it is likely that when the big super deposit is over, advisers will move towards advising on salary sacrificing, gearing and insurance under super.
According to Thomas, people may look to rewind gearing as the personal income tax rates are lowered. "Only 3 per cent of Australians are now on the top tax rate of 46 per cent," he said.
"This means that they may rewind gearing and salary sacrifice instead as that has an advantage over gearing because of the absence of the super surcharge and RBLs."
Thomas said he also believes the negativity of legislative risk with super is disappearing as the number of older voters grows.
In NSW, property is the main asset being moved to super, said Thomas. The phenomenon has also affected real estate sales with the Real Estate Institute of NSW calling Axa to ask about it.
However, in Queensland and West Australia people are still heavily invested in property, he said.
"People are also moving shares into super. For example, Commonwealth Bank shares bought in the float are now worth a lot of money. People are keeping the shares, but just changing the ownership," Thomas said.
