The changes to the superannuation (super) system, announced by the Australian Government in the May 2016 Budget have now received Royal Assent. These changes were designed to improve the sustainability, flexibility and integrity of Australia’s super system. Most of the changes will commence from 1 July 2017.
Your super is your future – check to see if you are directly affected, or what these changes may provide for you to maximise your savings for retirement.
More detailed information is being progressively published to help you understand the changes, how they may affect you, and what you may need to know and do now, or in the future.
For an overview of the changes, please visit https://www.ato.gov.au/Individuals/Super/Super-changes/