What do the proposed new superannuation changes mean for you?
You will no doubt be aware of the scope of the proposed super changes announced by Minister Bill Shorten on Friday 5 April 2013. These announcements were, in part, to put to rest much of the speculation that has been occurring on an almost daily basis over the last few weeks. The three key changes announced were as follows:
1. You might pay some tax if you are in “pension mode” from 1 July 2014
2. Not all assets will be subject to a capital gains tax
3. Higher tax deductions for super contributions