Federal Budget 2014 summary

Strategies

Wednesday 14 May 2014

The Treasurer Joe Hockey’s first Federal Budget contained few surprises for financial services professionals. Of note is the Government’s announcement that it will make the treatment of excess non-concessional contributions (NCCs) fairer and the re-phasing of the superannuation guarantee rate increase.

This article provides a brief summary of these superannuation measures, as well as the tax, social security and family assistance measures we anticipate will be of most interest in relation to advice given by financial services professionals.

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