Sladen Snippet - second tranche of super changes released

The Government has released its second tranche of superannuation budget measures. The measures in the second tranche include:

  • The $1.6 million pension cap (referred to as the “transfer balance cap”)
  • Lowering the concessional contributions cap to $25K
  • Lowering the 30% contribution tax rate threshold (referred to as the Division 293 tax) from $300K to $250K
  • The ability to make up to 5 years’ worth of concessional contributions
  • Removing the earnings tax exemption (ie pension phase) for transition to retirement income streams
  • Abolishing the anti-detriment rule

The lowering of the non-concessional contributions cap (and related measures) was not included in this tranche but will be included in a future tranche. 

To discuss this article, or for further information please contact:

Phil Broderick
Principal
T: +61 3 9611 0163
M: +61 419 512 801
E: pbroderick@sladen.com.au

Melissa Brazzale
Associate
T: +61 3 9611 0161
E: mbrazzale@sladen.com.au

Phil Broderick