Election 2016: Superannuation changes to hit 1.3m
Up to 1.3 million people, or 9 per cent of superannuation savers, will be hit by one or more of thesuperannuation changes in this year's budget, challenging the government's assertion that only 4 per cent would be affected.
The figures suggest the government has underestimated the number of people who will be hurt by the proposed measures, including a $1.6 million limit on super pension transfers,a $500,00 lifetime cap on after-tax contributions, and a new 15 per cent tax on the transition-to-retirement scheme, which is meant to make it easier for older people to work.
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