Federal Budget 2017/18

Superannuation and SMSF changes in the 2017/18 Australian Federal Budget.

Budget 2017 superannuation changes: downsizing homes & first home buyers

The Federal Budget 2017 includes several changes to superannuation, the biggest of which relate to housing. The 2017 Budget proposes a higher super contributions cap for the proceeds of downsizing homes and allowing first home buyers to withdraw voluntary contributions from super. Other changes include integrity measures, tax relief for… Read More »Budget 2017 superannuation changes: downsizing homes & first home buyers

ASFA calls for super policy stability, with modest changes, in 2017 Budget

The Association of Superannuation Funds of Australia (ASFA) is calling for today’s Federal Budget to deliver policy stability for the superannuation system, though with “modest changes”. ASFA CEO Dr Martin Fahy said superannuation, was an unqualified human good and an outstanding public policy initiative, like universal health care and free… Read More »ASFA calls for super policy stability, with modest changes, in 2017 Budget

Proceeds from downsized home may be exempted from super caps in Budget

The Government is reportedly considering allowing exemptions from contributions caps and the Transfer Balance Cap for people who downsize their home and contribute the proceeds to superannuation. This is the latest in a series of pre-budget reports. Most recently there were reports of different ways in which first home buyers… Read More »Proceeds from downsized home may be exempted from super caps in Budget

Budget should include changes to support self-funded retirees: FPA

The Financial Planning Association of Australia (FPA) has recommended the Government implement a number of changes to superannuation contributions in the upcoming 2017/18 Budget to encourage Australians to self-fund their retirement. “With an ageing population and the additional pressure this will add to future budgets, the FPA strongly recommends that… Read More »Budget should include changes to support self-funded retirees: FPA