While at first glance Tuesday’s federal budget seemed low-key, there are a number of important measures that will affect retirees, downsizers and self-managed super funds.

Before the budget, there were rumours that the maximum amount an individual could have in super would be limited to $5 million; that indexation of the transfer balance cap – and thus total superannuation balance (TSB) – would be frozen, given recent movements in the consumer price index (CPI); and that SMSF limited recourse borrowing arrangements would be abolished or changed. None of these came to fruition.