Better Super is here
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As the 2006-07 financial year drew to a close, so too began a new era in Australian super. On 1 July 2007, the government's new Better Super system was ushered in, bringing:
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- tax-free super benefits for members over age 60
- the removal of Reasonable Benefit Limits
- a cap on before-tax contributions of $50,000 p.a. (transitional arrangements apply until 1 July 2011)
- limits on after-tax contributions of $150,000 p.a.
- the ability to leave your benefit in your super fund indefinitely.
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Want to know more?
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| Download the Better Super Overview fact sheet for a summary of the major changes. |
