Here is a snap shot of some of the key superannuation changes that are to come into effect from 1 July 2017.
Spouse Tax Offset
The spouse tax offset entitles an individual who makes non concessional contributions on behalf of their spouse, married or defacto to claim a tax offset of up to $540.
The spouse’s income* threshold has increased from $10,800 to $37,000. The tax offset gradually reduces above this threshold and completely phases out at an income above $40,000.
The tax offset is not available when the spouse has exceeded their non concessional contributions cap or when their total superannuation balance is $1.6 million or more.