Super Restrictions - will they affect you?

In the 2016 Budget, changes were made to the amount of funds that can be contributed to superannuation. The final details to these changes were only legislated recently and some individuals may need to act now.

Whilst it was proposed that all individuals could contribute up until age 75, this measure was scrapped, meaning those people approaching age 65 should review their options prior to the 30 June 2017.This is of particular importance if you are looking to invest lump sums into the tax-free superannuation environment in the next few years.

It is strongly suggested that people in this position, seek advice from their financial planner or superannuation fund.