Superannuation is the most tax effective way for you to save for your retirement. But the laws are changing and the amount you can contribute to super will soon be reduced. There will also be a tax hike on contributions for some high income earners.
The changes are complex but they will have a clear result – it will be harder for you to maximise your super balance. That means less money in the low-tax super system to support your lifestyle in retirement.
The good news is you may have time to top up your super before the new rules come into effect on 1 July 2017.
But the clock is ticking. You need to review your situation urgently so any changes made to your super strategy can be implemented before the deadline. Particularly if you’re approaching retirement, earn a high income or have significant super savings.
Don’t get trapped when the rules for super change.
Contact the team at Butlers Accountants on 0755362288 to ensure your strategy is in place before 30 June2017.