1. Superannuation Guarantee contributions (employer contributions) move to 9.25%.
  2. Pension minimums move back to normal rates. This means income generation in pension phase becomes even more important.
  3. People over age 60 can now make concessional contributions of $35,000 per year.
  4. The ban of in specie contributions has been abandoned.
  5. Individuals earning greater than $300,000 will have their concessional contributions tax increase from 15% to 30%.
  6. Superannuation Guarantee contributions will continue for individuals pas age 70.
  7. Penalties for excess concessional contributions removed.

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Thomas Jacks BCom (Acc), SMSF SpecialistTM, Adv. Dip F.S. (FP)
“I want to be able to assist clients with their investment and retirement planning by providing real strategy advice. It’s my aim to not only help my clients but to educate them by addressing the entire picture” Google Plus

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