Super News! Budget 2021 Super Enhancements Passed by Parliament

Super News…and good news for once!

Budget 2021 Super enhancements passed by parliament.

Effective 1st July 2022 there are 5 new key superannuation enhancements to come into effect, they are:

1. Partially removing the work test for those aged 67 to 75.
2. Extending the non-concessional contributions bring-forward age limit to age 75.
3. Reducing the downsizer contribution eligibility age to age 60.
4. Increasing the maximum First Home Super Saver Scheme withdrawal amount to $50,000.
5. Removing the monthly minimum threshold for Superannuation Guarantee (SG) Contributions.

Watch the video for a run down on these 5 key enhancements.

Keep watching as I will post a further 5 video mini series where I will unpack each of these 5 key enhancements in more detail and give examples of how they can benefit you and give you a more secure and comfortable retirement.

Direct Link: https://youtu.be/owBUHVb3QvY

 

Stay Safe & Happy Investing,

Aaron Kane

Managing Director

EK Financial Group

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