Federal Budget 2016 – Superannuation | KPMG | AU

Federal Budget 2016 – Superannuation

Budget 2016 – Superannuation

The most significant changes to the tax setting of superannuation since 2007 form part of the 2016 Budget.


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Hot air balloon in blue sky

The changes to the tax settings for contributions are all in the direction of improving the equity outcomes from the distribution of tax concessions.

Key insights

  • The retention of tax concessions for contributions for low income earners, and catch-up contributions for members with broken work patterns, including many women, are particularly welcome.
  • Prior to these changes, the distribution of tax concessions for superannuation earnings was heavily skewed to members with large superannuation balances, particularly those in pension phase. The announced changes go a significant way to improve the equity of these concessions.
  • The draw down phase of superannuation remains the big unfinished element of Australia's system, which is otherwise recognised as a leading system round the world.

Federal Budget 2016 – Review

This report provides KPMG's in-depth analysis of the 2016 Federal Budget – insights into the major implications for Australia, and for business.

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Federal Budget 2016 – Banking

This report outlines the key implications for the Banking sector announced in the 2016 Federal Budget.

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Federal Budget 2016 – Video analysis

Watch KPMG leadership and key business identities share insights into the Budget's major implications for Australian business, industries and sectors.

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Federal Budget

Federal Budget

KPMG's review of the business implications of the 2016 Federal Budget.

Tax Reform

Tax Reform

KPMG is providing active analysis and insight to contribute to the reform process. Discover our latest thinking through our videos and publications.

Wealth Management

Wealth Management

KPMG's Wealth Management practice offers a range of services to superannuation funds, life offices, employers and fund trustees.

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