Business Services Industry
Careful with the cashflow: a new world looms.
Australasian Business Intelligence, April, 2007
Byline: Michael Pollak
Apr 25, 2007 (The Australian Financial Review - ABIX via COMTEX) -- A new era in Australian superannuation will begin on 1 July 2007. Until this date, people can put up to $A1 million in super. After July, people can only put $A150,000 a year into a super fund, or $A450,000 averaged over three years. Noelle Kelleher, of Ernst & Young, advises that an ongoing strategy is better, with super contributed consistently. Kelleher has also observed that people close to retirement are delaying accessing super benefits until after 30 June so that it is tax-free. Advisers are receiving many inquiries about salary sacrifice but recommend that cashflow not be affected.
Publication Date: 26 April 2007
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