Superannuation reform promises $3 billion in savings
The Fair and Sustainable Super Bill has been passed in the Senate, with Government promising it will save the budget nearly $3 billion.
Treasurer Scott Morrison says the changes are “fair and necessary” and will “future-proof” the retirement system for years to come.
According to the Australian Financial Review, the reforms could see “more than half a million people paying 30 per cent in superannuation contributions tax”.
So what impact will this have on your retirement plans?
Story features: Nerida Cole, Head of Advice at Dixon Advisory
Image: ‘Retirement’ by Tax Credits on Flickr