SUPERANNUATION: $500K CAP IS AXED!
By Andrew Henshaw, Director, Velocity Legal
The Coalition Government announced further changes to superannuation. The Coalition government announced that they would be scrapping their proposed $500,000 cap on non-concessional contributions (which was announced on 3 May 2016, and had ‘retrospective’ effect from 1 July 2007). The $500,000 cap was an “iron-clad” promise, which had come under heavy criticism from the superannuation industry and members of the Coalition Government backbench.
Andrew leads Velocity Legal’s Sydney practice.
If you are in a fight with the ATO or looking to restructure your business, you should have Andrew in your corner. Andrew is passionate about getting wins for his clients, solving difficult legal issues, and giving his clients clear and confident guidance. Andrew is a Chartered Tax Advisor, holds a Masters of Law from the University of Melbourne and is the author of ‘Life, Death and Taxes’. Andrew is also a passionate snowboarder and is always up for the next adventure in life.