Beating the budget boot

Key Points Budget measures impose 15% 'surcharge' on those with income over $300,000 in a particular year An existing strategy may help you beat the surcharge Depending on your circumstances, the strategy may deliver ongoing benefits Background The Federal Budget contained two key measures aimed at the wallets of super investors: A two-year deferral of the $50,000 concessional contribution cap for those with balances of less than $500,000. A ‘super surcharge’ (not that we are calling it that) of 15% on contributions of those earning over $300,000. Not much can be done about the first measure but in the...

The Federal Budget contained two key measures aimed at the wallets of super investors:

Not much can be done about the first measure but in the second there’s a glimmer of hope.

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