Better Super Changes Explained

Superannuation is one of the most tax effective investments available and a great way to save for retirement. New rules make superannuation an even more flexible and rewarding way to achieve your financial goals.

A snapshot of the better super changes implemented

Limits introduced on after-tax, "undeducted" super contributions
Once you turn 65 and stop working you are no longer required to draw down your super
All super benefits you receive once you have turned 60 are now tax free
Reasonable Benefits Limits have abolished
The tax treatment of super benefits received before age 60 are now simplified
Limits applying to before-tax, "deductible' super contributions are now simplified
Death benefits from super are taxed in a more generous way
Income streams such as pensions are now more flexible 
It is now easier to transfer money from other super funds 
There are now more superannuation advantages if you are self-employed
Fairer asset tests for pensioners

For further information on on these changes, click here to download our Better Super newsletter.

You can also visit the Federal Government's Better Super website at www.simplersuper.treasury.gov.au for additional detail on the changes.