the future of superannuation: unpacking the proposed $3m limit on favourable tax concessions
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The Balance Transfer Cap, I'm Going Out on a Loom.
From July 1 this year, you can have $1.9 million in your pension account which grows at a rate of 0% tax. Anything above that amount, you get taxed at 15%. So for what it's worth, the current superannuation system is still pretty good. If you're retiring next week and you've got over $3 million in your superfund, you probably will be okay.
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