Superannuation Changes - Changes to Concessional and Non-Concessional Contributions

The federal government has finally passed legislation to change the superannuation system. The changes take effect on 1 July 2017, however many clients will need to take action prior to this date.

This edition explains the contribution rules for the year ended 30 June, 2017 and how they will change from the following day.

Changes have been made to both Concessional (i.e. a tax deduction has been claimed or they are paid by your employer) and Non-Concessional (personal non-deductible) contributions and these are somewhat different to those announced in this year’s budget.

Please Click Here to see how the changes will affect you.