Budget News – Super Contributions
The Government previously announced that it was going to reduce concessional contributions to $25,000 p.a. for many people. The exception was to be those who were both over 50 years of age and had less than $500,000 in total superannuation balances.
In the Budget the Government has now decided to defer this by two years. So for the next two years, everyone will be limited to $25,000 p.a