More on Budget 2023
Superannuation
Super’s Got a New Cap
Last week we looked at the recent Budget’s ‘big picture’ – the unexpected surplus of $4 billion. This week, we take a closer look at some of the specific announcements. There were no really ‘big’ announcements (other than the surplus); rather there were a suite of smaller changes.
You may have seen recent commentary about a new cap on large super balances. It has caused a lot of discussion, but the changes will not affect that many people. Most of us do not really need to worry.