Superannuation Legislation Amendments

Onto superannuation, the assistant treasurer and minister for superannuation Bill Shorten has introduced legislation to raise the Super guarantee contribution form 9% to 12% on an incremental basis from July 1 2013.

The amendments also increase the Super guarantee age from 70 to 75 commencing 1 July 2013.

These changes were introduced with a number of bills which have not yet passed through the house; they are contingent on the Mineral resources rent tax being passed and are an attempt by the government to see all Australians less reliant on the government in retirement and a move towards retiring with at least 70% of income post their working life.

On this point, Superannuation funds differ significantly from one fund to another. If you would like to review your superannuation planning, don’t hesitate to call the office. We can help you better understand your eligibility to contributions and discuss strategies that maximise the preferential treatment available under the superannuation rules.

Discussion points may include:

  • Transition to retirement benefits (for Age+)
  • Co contribution government incentives
  • Low income contribution incentives
  • Tax free retirement income strategies
  • Consolidating your super into one fund
  • Salary sacrificing additional super
  • How a self managed super fund works
  • Understanding the benefits of various fund types

Tags: ,

Comments are closed.

Request a Home Loan Quote

Contact Details

Personal Information

Loan Details

 Fixed Rates

To ensure we offer you the best loan options, please provide any extra details on your scenario below.

All information is considered private and confidential, a staff member will be in touch with you the next working day, Mon-Fri, 9am - 5pm.

Request an Insurance Quote

Contact Details


Health and Lifestyle

 I am smoker

 High Blood Pressure
 Depression/Anxiety/Nervous Disorder
 Heart Problems

Quote Requests


Request an Accountant Meeting

Contact Details


 I am up to date with my quarterly BAS.
 I would like Belmont Group to do my quarterly BAS
 I need general accounting help
 I need a bookkeeper
 I have taken out income protection insurance
 I have taken on a lease/chattel mortgage/loan
 I need advice on tax deductions