“Earlier this month the Senate passed a series of the broad ranging superannuation reforms originally proposed in the 2016-17 Federal Budget. A $1.6m lifetime non-concessional contributions cap will apply from 1 July 2017. Where a member’s super balance exceeds $1.6m as at 30 June of the previous year, that member will no longer be eligible to make further non-concessional contributions.
The $1.6m balance is assessed on the member’s entire super balance, not only on the level of non-concessional contributions that have been made”
…find out more about what may be of your prior concern for your company and personal business…please come and talk to Tax Ideas Accountants & Advisers https://taxideas.com.au/booking/
Tel: (02) 8318 1545