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ARTICLE · 27 SEPTEMBER 2013

Coalition policy commitments – potential changes to superannuation and taxation

The article lists potential changes to superannuation and taxation under the new Coalition government commitments.

AustraliaStrategy

Superannuation

  1. Superannuation Guarantee Contributions – Current Superannuation Guarantee rate of 9.25% will remain frozen until FY2016. This means the planned SG increase to 12% will be delayed by a further two years to FY2022.
  2. Concessional Contribution Caps – The level of contribution caps will be reviewed when the Budget position returns to surplus.
  3. Superannuation Incentives for Low Income Earners – The current Low Income Superannuation Contribution of up to $500 provided to low income earners will be removed.
  4. Superannuation Co-contributions – The thresholds and level of payment under the current Super Co-contributions scheme will be reviewed when the Budget position returns to surplus.

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