The Federal Government’s reforms to superannuation are now in effect, with new rules having commenced from 1 July 2017. It’s important to understand how these changes could affect your financial strategy and retirement plans.
On Wednesday 23 November 2016, the Federal Government’s proposed changes to super rules were passed by Parliament. This means that from 1 July 2017, the amount you can put into super each year will be reduced – which could impact your retirement plans. So before the changes happen, it’s a good idea to consider whether you should contribute a bit extra to your super.