New super rules from 1 July 2017
New superannuation rules are due to take effect on 1 July 2017.
These upcoming changes are significant and include:
- Introduction of a $1.6 million transfer balance cap
- Removal of tax exemption for transition-to-retirement pensions
- Cut in annual concessional (before-tax) contributions cap to $25,000
- Cut in annual non-concessional (after-tax) contributions cap to $100,000
- Lowering of income threshold from $300,000 to $250,000.
It’s important to note that these changes may will have different implications for members, depending on factors such as member age, superannuation balance and investment strategy.
Join NGS Super CEO, Anthony Rodwell-Ball, as he investigates these upcoming changes, and what they mean for three key age groups:
- Members under 49 years of age on 1 July 2017
- Members between 19-64 years of age on 1 July 2017
- Member aged 65+ on 1 July 2017
Simply select the option below that corresponds to your age group to view the appropriate CEO video.