Superannuation Changes

Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021 has now passed both houses of Parliament.

Current 2021/2022 Financial Year

SMSF trustees can choose the way in which the fund’s tax-exempt pension income is calculated.

Next financial year – 2022/2023

The $450 salary threshold, under which SGC contributions do not need to be made, will be abolished. Eligibility for downsizer contributions will be reduced from 65 to 60.

The information in this blog is intended only to provide a general overview and has not been prepared with a view to any particular situation or set of circumstances. It is not intended to be comprehensive nor does it constitute advice. While we attempt to ensure the information is current and accurate we do not guarantee its currency and accuracy. You should seek professional advice before acting or relying on any of the information in this blog as it may not be appropriate for your individual circumstances.

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