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Mid-Year Economic and Fiscal Outlook (MYEFO) and superannuation

The Mid-Year Economic and Fiscal Outlook (MYEFO) is an annual report, typically released each December by the federal government. The MYEFO announces further budgetary changes since the May Federal Budget.

The articles appearing in this section explain the MYEFO changes affecting superannuation including self-managed super funds.

For more information about the latest Mid-Year Economic and Fiscal Outlook (2017/2018 MYEFO), and the MYEFO for previous years, see the following SuperGuide articles:

  • A super summary: 2017/2018 Mid-Year Economic and Fiscal Outlook (MYEFO)
  • A super summary: 2016/2017 Mid-Year Economic and Fiscal Outlook (MYEFO)
  • A quick summary: 2015/2016 Mid-Year Economic and Fiscal Outlook (MYEFO)
  • A quick summary: 2013/2014 Mid-Year Economic and Fiscal Outlook (MYEFO)
  • A super summary: 2012/2013 Mid-Year Economic and Fiscal Outlook (MYEFO)

Note: The 2014/2015 MYEFO is not mentioned because no superannuation changes were announced in that document.

Set out below are all SuperGuide articles referring to Mid-Year Economic and Fiscal Outlook (MYEFO) and superannuation.

Set out below are all SuperGuide articles referring to Mid-Year Economic and Fiscal Outlook (MYEFO) and superannuation.

Lost super rules making money for the Government

February 21, 2018 by Trish Power Leave a Comment

Lost super rules making money for the Government

The ATO has enjoyed a super bonanza of more than $1 billion as a result of the misfortune of those Australians who have ‘lost’ their superannuation through lack of action or ignorance. The windfall to the ATO is a result of changes to the super rules that originally took effect from December 2012.Initially ... Read more

Fee hike for small super accounts

February 21, 2018 by Trish Power 9 Comments

Fee hike for small super accounts

If you have less than $1000 in your super account, or you have children or grandchildren with part-time jobs (or starting their first full-time job), then you will be very interested in this article.Not so long ago, the super rules used to look after fund members with small super account. If super account had less ... Read more

SMSFs: ATO supervisory levy must be paid in advance

January 22, 2018 by Trish Power 6 Comments

SMSFs: ATO supervisory levy must be paid in advance

The ATO supervisory levy payable by SMSFs each year has been increasing in leaps and bounds over the past few years. The levy payable each year now sits at $259 and this amount is payable in advance. For a new SMSF what this means is that you would pay double the SMSF levy in your first year.For the 2017/2018 year, ... Read more

A super summary: 2017/2018 Mid-Year Economic and Fiscal Outlook (MYEFO)

January 11, 2018 by Trish Power 1 Comment

A super summary: 2017/2018 Mid-Year Economic and Fiscal Outlook (MYEFO)

On 18 December 2017, the federal government released the 2017/2018 Mid-Year Economic and Fiscal Outlook (MYEFO), which was jointly presented by federal treasurer, Scott Morrison and minister of finance, Mathias Cormann.In the media release accompanying the report, the ministers announced that “Despite the many ... Read more

Concessional contributions caps slashed since July 2017

December 17, 2017 by Trish Power 19 Comments

Concessional contributions caps slashed since July 2017

A single annual concessional (before-tax) contributions cap of $25,000 applies to all ages from the 2017/2018 financial year.Taking effect from 1 July 2017, the Coalition government scrapped the over-50s concessional (before-tax) contributions cap of $35,000, and replaced it with a $25,000 cap. The government also ... Read more

SMSFs: Green light for off-market share transfers

December 13, 2017 by Trish Power 5 Comments

SMSFs: Green light for off-market share transfers

Off-market share transfers for SMSFs remain legitimate transactions, and continue to remain legitimate indefinitely, according to the Liberal/Coalition government.Background: The proposal to ban off-market share transfers was put forward by the former ALP government, but not long after the 2013 federal election, ... Read more

SMSF compliance: Harsher penalties for naughty trustees

October 12, 2017 by Trish Power 1 Comment

SMSF compliance: Harsher penalties for naughty trustees

SMSF trustees can be subject to a suite of penalties, if they fail to properly adhere to the super rules.The explanatory memorandum that accompanied the relatively new legislation, states that the SMSF penalties, which took effect from 1 July 2014 will enable the ATO to “give directions and impose administrative ... Read more

SMSF pension earnings remain tax-free after death

July 23, 2017 by Trish Power 4 Comments

SMSF pension earnings remain tax-free after death

When a superannuation account enters pension phase, the earnings on assets financing the super pension are exempt from tax, subject to meeting minimum pension payment rules. What this means is that capital gains, dividend income, interest income and any other type of income that the super pension account receives is ... Read more

Broken promise? Government fails to cut SMSF ATO levy

February 24, 2017 by Trish Power 1 Comment

Broken promise? Government fails to cut SMSF ATO levy

Just over three years ago, in December 2013, the newly-elected Liberal government (and again re-elected in 2016) promised to review the amount of the ATO SMSF levy. At $259 a year, the SMSF ATO supervisory levy had more than quintupled in the 7 years from the 2007/2008 year when only $45 a year was payable.In late ... Read more

A super summary: 2016/2017 Mid-Year Economic and Fiscal Outlook (MYEFO)

December 26, 2016 by Trish Power Leave a Comment

A super summary: 2016/2017 Mid-Year Economic and Fiscal Outlook (MYEFO)

On 19 December 2016, the federal government released the 2016/2017 Mid-Year Economic and Fiscal Outlook (MYEFO), which was jointly presented by federal treasurer, Scott Morrison and minister of finance, Mathias Cormann.In the media release accompanying the report, the ministers announced that “sustained discipline ... Read more

A quick summary: 2015/2016 Mid-Year Economic and Fiscal Outlook (MYEFO)

December 16, 2015 by Trish Power 1 Comment

A quick summary: 2015/2016 Mid-Year Economic and Fiscal Outlook (MYEFO)

On 15 December 2015, the federal government released the 2015/2016 Mid-Year Economic and Fiscal Outlook (MYEFO), which was jointly presented by federal treasurer, Scott Morrison and minister of finance, Mathias Cormann. Speaking to the media and to the public, the ministers announced that the government’s plan for the ... Read more

Financial System Inquiry: Interim report expected by July 2014

May 9, 2014 by Trish Power 1 Comment

Financial System Inquiry: Interim report expected by July 2014

Note: Information on the Government’s response (released 20 October 2015) to the FSI final report (an interim report was made publicly available in July 2014, and final report published on 20 October 2015) can be found in the SuperGuide article Liberals response to Financial System Inquiry: Super and retirement ... Read more

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SuperGuide was founded by Trish Power, (author of Superannuation for Dummies, DIY Super for Dummies, Super Freedom, Age Pension made simple, and many other books on super and investing), and Robert Barnes.

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