Investors with average super balances of $1 million are winners in the government's capitulation on plans to impose a $500,000 lifetime limit on post-tax contributions.
Under the changes announced on Thursday, those who can afford to make extra contributions to super out of their post-tax income will be able to do so at a rate of $100,000 a year until their balance reaches $1.6 million.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
