This is an alert to some speculation that there may be a superannuation contribution cap change announced at the forthcoming Federal Budget. It is issued to provide awareness – and an opportunity for our readers to consider their contribution position for the 2008 financial year –
and act promptly if the need for a contribution is urgent, especially if the contribution amount is to be substantial.
There has been some speculation in the Press over the past few days suggesting that the government will move to reduce the superannuation contribution limits by 50% from their current levels.
We cannot confirm nor refute these rumours.
Presuming the government may make such a change, the question is whether it would take effect from Budget night; from 1 July 2009; or – highly unlikely – from 1 July 2008!
Anybody who is currently planning to make a substantial contribution by 30 June 2009, relying on the law as it currently exists, might be more comfortable making the contribution prior to next Tuesday evening (12 May 2009).
We trust that this superannuation contribution cap change alert will benefit you. This is not advice: it is merely an alert to the possibilities.
If you need advice in relation to this matter please contact your Continuum Financial Planners adviser, through Kathy – phone the office on 07-34213456; to make an appointment, use the website Contact form (and we’ll get back to you promptly).
This post was originally published in May 2009: it has occasionally been refreshed/ updated (for SEO ranking purposes), most recently during January 2020.
