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Government Scraps $500k Super Lifetime Limit | Cashflow+Networks

September 15, 2016 | Posted in Blog, Superannuation | By


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From the desk of Christopher Emmanuel

I was disappointed when the government put the new measurement against the superannuation in the last budget. From our view, this is a very limiting move by the government in the name of making sure that it is not misused.

I am glad that the government notice that this is a bad move and it will not give a positive results. Today they have announce that they are scraping the super 500k lifetime limit measurement and changing it to $100k limit per year and 3 years bring forward limited to those with balance up to $1.6 million.

I believe this is a more fair measurement and should be received with the most welcome hands. Although I prefer the old measurements but this is still a good thing rather than the government making super as a very not attractive vehicle for people to use.

Kind regards

Christopher Emmanuel

Related external articles/news:

  1. SelfManaged Super – Govt scraps $500k super cap: https://goo.gl/MQARwE
  2. SkyNews – Government scraps $500k superannuation cap: https://goo.gl/wjVVnJ
  3. Daily Telegraph – Superannuation reform: Government to scrap $500,000 cap: https://goo.gl/m1M5bH
  4. Financial Observer – Govt scraps $500K lifetime cap: https://goo.gl/aGwVRU

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