A positive coming out of the proposed super changes

Treasurer Scott Morrison’s release last week of the first tranche of new super legislation has been welcomed by the industry, but it digs an even bigger hole in the Budget.

Morrison unveiled the nicest bits of his 2016 Budget super package, including tax savings for low-income workers and new rules that allow anybody aged under 75 to make personal tax-deductible contributions.

SMSF Association CEO Andrea Slattery says the new legislation should go “some way” to instilling confidence back into the system.

“These measures will give superannuation greater certainty and flexibility, particularly for women and those who have had broken work patterns or variable incomes during their working lives,” she says.