What the 2016 Federal Budget Superannuation annoucements mean for you

On 3 May 2016, the Turnbull Government delivered its first Federal Budget. And it is also the last Federal Budget to be delivered by the current Government given the impending election.

According to the Treasurer, this year’s Budget is not an ordinary Budget — rather, it is an economic plan that focuses on three key actions:

  • Sticking to Government’s plans for jobs and growth;
  • Fixing specific problems In the tax system (including major superannuation reforms); and
  • Continuing to ensure the Government lives within its means.

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