Budget 2010

Despite the hype, the 2010 Federal Budget and response to Henry Tax Review have resulted in few significant structural changes to the tax, super and social security systems in Australia.

From a retirement planning perspective, the single most important change is the continuing of the $50,000 concessional super cap from 1 July 2012 for the over 50’s. However, only if you have a super balance under $500,000.

If you expect to approach the $500,000 limit in the next two years then start planning now.

Please find attached a 2010 Budget Update for your interest.

Please read the attached Update for more information.