Tag: 2016 Budget

The Federal Government have recently released the third tranche of proposed Superannuation Legislation changes as first announced in the 2016 Budget.The Government has reduced the amount of after tax contributions individuals can make to Superannuation from 1 July 2017.  These changes will impact most Australians and their retirement contribution strategies will need to be reviewed…

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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…

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