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 has more than 20 years of industry experience. Through her expertise in strategic financial planning and advice, Nerida has helped individuals and families from diverse backgrounds to manage their finances and superannuation during their careers and into retirement. 

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