Western Australia
Tue 20 June 2017

Major superannuation reforms from July 1

Key changes to the Federal Government’s superannuation rules take effect from July 1.

The reforms include

  • Introducing a $1.6 million superannuation transfer balance cap
  • Reforming the taxation of concessional superannuation contributions
  • Lowering the annual non–concessional contributions cap
  • Introducing the Low Income Superannuation Tax Offset (LISTO)
  • Improving access to concessional contributions
  • Allowing catch–up concessional contributions
  • Extending the spouse tax offset
  • Removing barriers to innovation in retirement income stream products
  • Improving the integrity of transition to retirement income streams (TRIS)

To find out more information and download fact sheets, click here to visit the Treasury Department’s information page.