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Superannuation changes 2017

There will be significant changes to the superannuation system, including new terminology, concepts, and reporting requirements. The Government's stated intention for these changes were to make the superannuation system more sustainable, flexible and with integrity.

The changes - some new, some abandoned and some modified since the original announcement in the 2016 Federal Budget - will come into force shortly, with most changes commencing from 1 July 2017.

Some of the changes will affect you directly now, others in the future. You may need to take immediate action now to meet the new requirements, or review your situation to determine any opportunities.

Reforms include:

This section of the website provides you with details of the changes. Please contact us if you have any questions or require further explaination.


Super changes 2017

Super changes 2017

Changes you must know

To do before 30 June 2017

Summary of changes

Changes to concessional contributions cap

Changes to non-concessional contributions cap

Total superannuation balance

Superannuation pension changes

Changes to taxation of superannuation pension

Transfer balance cap

Transfer balance cap - transitional CGT relief

Transfer balance cap - exceeding the cap

Transfer balance cap - Q&A

Transition to retirement pension from 1 July 2017

Transition to retirement - transitional CGT relief

Income stream payment cannot be treated as lump sum

Death benefits and the transfer balance cap

Segregated method for ECPI

Other changes

Removal of anti-detriment rule


Reducing pension account balance to avoid exceeding $1.6m transfer balance cap

Rulings and compliance guidance