The super tax changes introduced in the 2016 Federal Budget are the biggest reforms to Australia’s superannuation system over the past decade, and they are likely to affect everyone’s retirement savings.
From 1 July 2017, any earnings on the assets that support transition to retirement (TTR) pensions will no longer be exempt from tax. Instead, they’ll be taxed at the same rate as assets in the accumulation phase (up to 15%).
Fortress is committed to fully supporting our clients as the reforms come into effect and we’ll work together to ensure any impacts are managed effectively.
If you have any further questions or concerns about your super, please do not hesitate to contact us on 07 4646 4970 or at email@example.com
Written by Emma Linton Doig, Practice Officer at Fortress Financial Solutions
Corporate Authorised Representative of Magnitude Group Pty Ltd ABN 54 086 266 202, AFSL 221557.
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