How will the proposed Superannuation changes from the 2016 Budget affect you?
The Federal government delivered an unexpected proposal during the May budget when they proposed a lifetime cap of $500,000 (indexed to AWOTE in $50,000 increments) on non-concessional contributions, which will be backdated to 1 July 2007.Some background on the issue: Before 9th of May 2006 an individual could contribute an unlimited amount of non-concessional (un-deducted…
