Superannuation changes – before 30 June 2017.
Recently we’ve seen some major changes to many areas of superannuation.
Most of the changes are effective from July 1st, however there are some changes that need to be considered and acted on before 30th June 2017.
The biggest change is the tax exempt pension which will now be capped at $1.6M, from 1st July 2017. If you have funds over this pension cap, you will be paying a 15% tax rate on the residual funds earnings. For some, there may be strategies you can adopt prior to the 30th June 2017 to reduce the impact on your remaining funds.
What should you do?
To check if any of the changes affect your superannuation, or if you need to act before 30th June 2017, speak to your Financial Advisor.
We have a team of licensed Financial Advisors who can help you determine how the changes could impact you and review your current financial circumstances.
Call us 02 6362 1966 for more information.