Budget 2016 – Simply Super?
- On 05/05/2016
Superannuation is a central part of Treasurer Morrison’s first Budget. The cunningly crafted changes retain the attractiveness of superannuation as the preferred savings vehicle for retirement whilst making the system far more equitable. There is an improvement in simplicity in some areas.
About 4% of Australians will be worse off through the changes.
Collectively, the changes will drive couples to manage their superannuation together – funds will need to manage joint (family) accounts to stem the continued shift towards SMSFs.