Also from 1 July 2012 the current transitional arrangements which allow workers aged over 50 to make concessional super contributions up to $50,000 per annum, will be extended permanently for those with balances below $500,000.


[b]YOURLifeChoices Comment[/b]:
Long overdue. A disgrace that Howard Government through a period of sustained national growth did nothing to encourage Australians to save for retirement, except allowing the rich to place obscene amounts of money, virtually tax free, into their superannuation funds.