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12 Sep

Changes to Super are coming…

From 1 July 2017 Individuals with an adjusted taxable income above $250,000 will pay an additional 15% tax on contributions that aren’t in excess of their annual superannuation contribution cap.

Additionally, the mandatory super contributions cap will be lowered to $25,000 for all individuals. (They are currently $30,000 for those under age 50; $35,000 for those aged 50 and over.)

Legislation is currently being developed for this measure.

As we hear more we will update you…