As you would be aware the budget was handed down on 3 May 2016. The potential impacts to superannuation are unfortunately significant and harsher than was alluded to prior to budget night. What does it mean for your right now? The only change that is in place from 3 May 2016 is the introduction of a life time limit on... More Information ▶
The government has just announced that it had been successful in gaining support for the repeal in the Mining Tax Tax, but with that comes a freeze on the increase in Superannuation Guarantee Contributions (SGC). Until this year’s budget, the Labor government had SGC reaching 12% by 2019. This change sees it staying at 9.5% until 2021 before increasing in... More Information ▶
Nearly 2 weeks after the Budget announcements, the news is ablaze with protests and opinions on the likelihood of the measures being legislated. But from a Superannuation perspective, it’s largely business as usual. Here’s our take: The government saw reason and has announced measures to allow Excess Non-Concessional Contributions to be withdrawn (along with any associated earnings) where a Non-Concessional Contribution Cap... More Information ▶
