Government amends key super reforms

The Government has announced it will amend some of the super reforms proposed in the May 2016 Federal Budget. Summary of amendments: The lifetime limit of $500,000 on non-concessional super contributions won’t proceed. People aged 65 to 74 will still need to meet a ‘work test’ to be able to contribute to super. The opportunity…

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Salary packaging

Salary packaging reduces your taxable income and so reduces the amount of income tax you pay. Find out how it works and what can be packaged. How salary packaging works Salary packaging (also known as salary sacrifice) is an arrangement between you and your employer where you pay for some items or services straight from…

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