Small business hit as superannuation co-contribution dropped in Federal Budget

Summary

In a blow to small business, the Government have delivered cuts to superannuation tax concessions in the Federal Budget, expecting to save more than $1 billion next year by halving limits on tax-deductible contributions, and reining back on its co-contribution scheme. The Government will halve the maximum limit on concessional contributions from $100,000 to $50,000 […]