The revised superannuation reforms have recently been announced. Nathan Yii, Principal Lawyer & SMSF Advisor of Nathan Yii Lawyers, spoke to Insights regarding the reforms. He is also delivering an intensive superannuation course for the College of Law in November 2016 and March 2017.
“The proposed changes will affect all Australians – some individuals will be worse off but others will be better off. Some might not even be bothered,” said Yii. “High net worth individuals who have higher balances in superannuation are likely to feel the pinch more as the changes either restrict them making contributions to superannuation or reduce the tax-breaks which were available in previous years.”