Wins and losses in super rule changes

One door closes, another opens, even when it comes to superannuation. While the May budget will almost certainly tighten the rules again – and neither side of politics has ruled out more changes down the track – some have been loosened.

The penalty for exceeding the $25,000 salary sacrifice cap is being waived for first offenders within an over-payment of $10,000, while selffunded retirees who accidentally under-pay their super pension have been given a leeway of 8.3 per cent by the Australian Taxation Office [but it must "not exceed one-twelfth of the minimum pension" in its words] before penalties apply.

But if the rules are going to change for the worse, what should you be doing?

Read the full article: Wins and losses in super rule changes (AFR subscription required)

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Nerida Cole

Managing Director, Head of Advice

Nerida is a highly experienced financial adviser with a specialisation in all aspects of superannuation including self managed super funds (SMSF), retirement planning and wealth-building strategies. Nerida is responsible for the training, development and mentoring of all of Dixon Advisory’s team of Financial Advisers Australia wide.

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