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Superannuation News

Read our News section if you want to find out the latest developments and recent changes in super. If you haven’t already subscribed, why not consider subscribing to our free, monthly SuperGuide email newsletter which includes the latest important news on super, easy-to-understand explanations on how different super rules works, Q&As and plenty of super tips.

Set out below are all SuperGuide articles explaining Superannuation News.

The short story on super contributions limits (2016/2017 year)

You can make two types of superannuation contributions – concessional (before-tax) contributions and non-concessional (after-tax) contributions – and each type of contribution has a separate limit. Concessional contributions Before-tax contributions, such as compulsory Superannuation Guarantee … [Read more...]

Super contributions caps for the 2016/2017 year

The superannuation contributions caps for concessional (before tax) and non-concessional (after tax) contributions have not increased for the 2016/2017 year. The contributions caps applicable for the 2016/2017 year, are the same limits that were in place for the 2015/2016 year. Continue reading to … [Read more...]

Temporary concessional contributions cap for over-50s, ends 30 June 2017

In July 2013, the federal government introduced a temporary concessional contributions cap of $35,000 for over-60s, which was then expanded to 50-somethings from July 2014. The over-50s cap of $35,000 will no longer apply beyond the 2016/2017 year (subject to legislation).A concessional … [Read more...]

Higher concessional contributions cap applies to over-50s

Q: Do you need to be aged 50 at July 1, 2016, or could you turn 50 any time in the 2016/2017 year to take advantage of the $35,000 concessional cap?A: For the benefit of other readers, we will first explain the background to the over-50s cap.On 5 April 2013, the federal government announced … [Read more...]

Concessional contributions caps to be slashed from July 2017

On 3 May 2016, as part of the 2016 Federal Budget, the Coalition government announced it intends to scrap the over-50s concessional (before-tax) contributions cap of $35,000 and replace it with a $25,000 cap, and reduce the general concessional contributions cap (for under-50s) to $25,000, from its … [Read more...]

Superannuation changes: What rules apply for the 2016/2017 year?

Although the newly elected Coalition government has announced significant amendments to Australia’s superannuation rules, many of the big-ticket super policies are not changing, and now, none of the proposed changes will apply for the 2016/2017 year.Apart from the proposed $500,000 lifetime … [Read more...]

New $100,000 cap: Cut to non-concessional contributions cap

SUPER ALERT! On 15 September 2016, Treasurer Scott Morrison and Minister for Revenue and Financial Services Kelly Dwyer issued a joint media release announcing that the $500,000 lifetime cap on non-concessional contributions is now scrapped as a policy and will be replaced with an annual cap … [Read more...]

2016 Federal Budget update: Superannuation changes likely to become law

SUPER ALERT! On 15 September 2016, Treasurer Scott Morrison and Minister for Revenue and Financial Services Kelly Dwyer issued a joint media release announcing significant adjustments to proposed new superannuation policies. The change of heart on some super policies was as a direct result of … [Read more...]

Great news! Seniors Health Card income thresholds increased, again

Effective from 20 September 2016, the income test thresholds for the Commonwealth Seniors Health Card (CSHC) have increased for the third time in 13 years, and will continue to be indexed every September. The new indexed income test thresholds appear later in the article.The CSHC is available to … [Read more...]

Age Pension: More Australians entitled since September 2016, but lose from January 2017

In March, July and September of each year, the federal government changes the rules for claiming the Age Pension… for the better! Currently, the Age Pension income test and the Age Pension assets test are adjusted three times a year in line with increases in the Consumer Price Index.Effective … [Read more...]

Age Pension income test: Deeming rates and deeming thresholds

Note: This article explains the latest deeming rates and the deeming thresholds for the Age Pension income test. If you are seeking information about the latest increases in the thresholds for the Age Pension income test and Age Pension assets test see SuperGuide article Age Pension: More … [Read more...]

Age Pension: September 2016 rates now apply (until March 2017)

Note: This article explains the latest Age Pension rates, applicable until 19 March 2017. The Age Pension rates are indexed twice-yearly, with the next adjustment taking effect from 20 March 2017. If you are seeking information on the changes to the Age Pension assets test rules taking effect from … [Read more...]