2016-17 Federal Budget

Super Changes

The changes to the superannuation system announced in the May 2016 Federal Budget have started to roll out, beginning as of July 1, 2017.

They include:

  • A new lifetime cap on transfers to retirement income streams of $1.6 million
  • A lower cap of $25,000 per annum for concessional contributions 
  • A lower cap of $100,000 per annum for non-concessional contributions
  • Tax deductions for personal contributions to super
  • A lower threshold of $250,000 for increased tax on concessional contributions for higher-income earners
  • Increased thresholds for spousal contribution tax offsets from $10,800 to $37,000
  • Removal of the tax exemption on earnings of assets supporting a Transition to Retirement Income Stream (TRIS)
  • From 1 July 2018, members with super balances of $500,000 or less can take advantage of unused concessional contribution cap amounts from previous years. Unused amounts can be accrued for up to five years beginning 1 July 2018.


budget faqs

Have specific questions? we've provided answers to some of the most common budget related questions in our faq section.

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Budget Measures

Budget measures

Want to know more about the superannuation reform package? we take an in-depth look at what the budget measures are.

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Facsheets, Calculators and more.

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