2016-17 Superannuation Reform Changes in New Budget

Following the new budget effective from 7.30pm 3rd May 2016, following changes have been made in relation to Superannuation; 1. New lifetime cap for non-concessional superannuation contributions – Effective 3rd May 2016 7.30PM The government will introduce a $500,000 lifetime non-concessional contributions cap. The lifetime cap will take into account all non-concessional contributions made on or after 1 July 2007 …

Is your SMSF SuperStream Ready?

What is SuperStream standard? The Superstream standard is part of the government’s Super Reform package. It will provide a consistent, reliable electric method of transacting linked data and payments for superannuation. The goal is to improve the efficiency of the superannuation system, to improve the timeliness of processing of rollover and contributions, and reduce the number of lost accounts and …